{"id":38200,"date":"2022-12-15T13:25:58","date_gmt":"2022-12-15T13:25:58","guid":{"rendered":"http:\/\/egrowonline.com\/?p=38200"},"modified":"2022-12-15T13:25:58","modified_gmt":"2022-12-15T13:25:58","slug":"ethereum-price-resilience-gives-us-pause-but-not-out-of-woods-yet","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=38200","title":{"rendered":"Ethereum Price Resilience Gives us Pause, but Not out of Woods Yet"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div>\n<p><em>Ethereum jumped and tested the $1,350 resistance against the US Dollar. ETH corrected lower, but the bulls are active near the $1,280 support.<\/em><\/p>\n<ul>\n<li>Ethereum was able to clear the $1,300 and $1,320 resistance levels.<\/li>\n<li>The price is now trading near $1,290 and the 100 hourly simple moving average.<\/li>\n<li>There is a key bullish trend line forming with support near $1,285 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n<li>The pair could start a fresh increase unless there is a clear move below the $1,280 support.<\/li>\n<\/ul>\n<h2>Ethereum Price Tops Near $1,350<\/h2>\n<p><a target=\"_blank\" href=\"https:\/\/newsbtc.com\/analysis\/eth\/ethereum-price-aim-big-1400\/\" rel=\"noopener\">Ethereum price gained pace<\/a> for a steady move above the $1,300 resistance zone. ETH even surpassed the $1,320 level and settled well above the 100 hourly simple moving average.<\/p>\n<p>However, the bears were active near the $1,350 zone. There were two attempts to clear the $1,350 resistance, but the bulls failed. As a result, there was a bearish reaction from $1,350, similar to <a target=\"_blank\" href=\"https:\/\/newsbtc.com\/analysis\/btc\/bitcoin-price-retreats-18k\/\" rel=\"noopener\">bitcoin<\/a>. Ether price declined below the $1,320 and $1,300 levels.<\/p>\n<p>There was a clear move below the 50% Fib retracement level of the upward move from the $1,240 swing low to $1,350 swing high. The price is now trading near $1,290 and the 100 hourly simple moving average.<\/p>\n<p>There is also a key bullish trend line forming with support near $1,285on the hourly chart of ETH\/USD. The pair seems to be stable above the 61.8% Fib retracement level of the upward move from the $1,240 swing low to $1,350 swing high.<\/p>\n<p><a target=\"_blank\" href=\"https:\/\/newsbtc.com\/wp-content\/uploads\/2022\/12\/Ethereum-10.png\" rel=\"noopener\"><img decoding=\"async\" loading=\"lazy\" class=\"alignnone size-full wp-image-512400\" src=\"https:\/\/newsbtc.com\/wp-content\/uploads\/2022\/12\/Ethereum-10.png\" alt=\"Ethereum Price\" width=\"1834\" height=\"845\" srcset=\"https:\/\/newsbtc.com\/wp-content\/uploads\/2022\/12\/Ethereum-10.png 1834w, https:\/\/newsbtc.com\/wp-content\/uploads\/2022\/12\/Ethereum-10-460x212.png 460w, https:\/\/newsbtc.com\/wp-content\/uploads\/2022\/12\/Ethereum-10-860x396.png 860w, https:\/\/newsbtc.com\/wp-content\/uploads\/2022\/12\/Ethereum-10-768x354.png 768w, https:\/\/newsbtc.com\/wp-content\/uploads\/2022\/12\/Ethereum-10-1536x708.png 1536w, https:\/\/newsbtc.com\/wp-content\/uploads\/2022\/12\/Ethereum-10-750x346.png 750w, https:\/\/newsbtc.com\/wp-content\/uploads\/2022\/12\/Ethereum-10-1140x525.png 1140w\" \/><\/a><\/p>\n<p>Source: <a target=\"_blank\" href=\"https:\/\/www.tradingview.com\/symbols\/ETHUSD\/\" rel=\"noopener nofollow\">ETHUSD on TradingView.com<\/a><\/p>\n<p>An immediate resistance on the upside is near the $1,300 level. The first major resistance is near the $1,318 and $1,320 levels. A close above the $1,320 resistance might start a fresh increase. The next major resistance could be $1,350. Any more gains might send the price towards the $1,400 resistance zone.<\/p>\n<h2>More Losses in ETH?<\/h2>\n<p>If ethereum fails to climb above the $1,320 resistance, it could continue to move down. An initial support on the downside is near the $1,285 level and the trend line.<\/p>\n<p>The next major support is near the $1,280 level, below which the price could gain bearish momentum towards the $1,240 support. Any more losses could lead the price towards the $1,200 support.<\/p>\n<p>Technical Indicators<\/p>\n<p>Hourly MACD<strong> \u2013 <\/strong>The MACD for ETH\/USD is now gaining momentum in the bearish zone.<\/p>\n<p>Hourly RSI<strong> \u2013 <\/strong>The RSI for ETH\/USD is now below the 50 level.<\/p>\n<p>Major Support Level \u2013 $1,280<\/p>\n<p>Major Resistance Level \u2013 $1,320<\/p>\n<\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/news.google.com\/__i\/rss\/rd\/articles\/CBMiRmh0dHBzOi8vbmV3c2J0Yy5jb20vYW5hbHlzaXMvZXRoL2V0aGVyZXVtLXByaWNlLXJlc2lsaWVuY2UtcGF1c2UtMTM1MC_SAXBodHRwczovL25ld3NidGMuY29tL2FuYWx5c2lzL2V0aC9ldGhlcmV1bS1wcmljZS1yZXNpbGllbmNlLXBhdXNlLTEzNTAvP3V0bV9zb3VyY2U9ZGx2ci5pdCZ1dG1fbWVkaXVtPXR3aXR0ZXImYW1w?oc=5\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum jumped and tested the $1,350 resistance against the US Dollar. ETH corrected lower, but the bulls are active near the $1,280 support. Ethereum was able to clear the $1,300 and $1,320 resistance levels. The price is now trading near $1,290 and the 100 hourly simple moving average. There is a key bullish trend line [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":38201,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[41],"tags":[158,4108,195,1376,4421],"class_list":["post-38200","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-ethereum","tag-pause","tag-price","tag-resilience","tag-woods"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"http:\/\/egrowonline.com\/wp-content\/uploads\/2022\/12\/iStock-1383710952.jpg","_links":{"self":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/38200","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=38200"}],"version-history":[{"count":1,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/38200\/revisions"}],"predecessor-version":[{"id":38202,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/38200\/revisions\/38202"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/media\/38201"}],"wp:attachment":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=38200"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=38200"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=38200"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}