{"id":40781,"date":"2023-01-10T07:23:50","date_gmt":"2023-01-10T07:23:50","guid":{"rendered":"http:\/\/egrowonline.com\/?p=40781"},"modified":"2023-01-10T07:23:50","modified_gmt":"2023-01-10T07:23:50","slug":"ethereum-price-turns-green-but-decreasing-volumes-might-be-concerning","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=40781","title":{"rendered":"Ethereum Price Turns Green But Decreasing Volumes Might Be Concerning"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div>\n<p><em>Ethereum extended its increase above the $1,300 resistance zone against the US Dollar. ETH tested the $1,350 zone and is currently correcting lower.<\/em><\/p>\n<ul>\n<li>Ethereum remained in a positive zone and climbed above the $1,300 and $1,320 resistance levels.<\/li>\n<li>The price is now trading above $1,300 and the 100 hourly simple moving average.<\/li>\n<li>There is a major bullish trend line forming with support near $1,292 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n<li>The pair could rise further if it stays above the $1,280 support zone.<\/li>\n<\/ul>\n<h2>Ethereum Price Faces Resistance<\/h2>\n<p>Ethereum price started a <a target=\"_blank\" href=\"https:\/\/newsbtc.com\/analysis\/eth\/ethereum-price-climbs-1300\/\" rel=\"noopener\">decent increase above the $1,280 level<\/a>. ETH gained pace and was able to clear the $1,300 resistance zone to move into a positive zone, similar to <a target=\"_blank\" href=\"https:\/\/newsbtc.com\/analysis\/btc\/bitcoin-price-struggles-above-17k\/\" rel=\"noopener\">bitcoin<\/a> above $17,000.<\/p>\n<p>The price even broke the $1,320 zone to extend its increase. Ether traded to a new yearly high at $1,343 and slowly lost momentum. It seems like the price climbed above the $1,320 level on a decreasing trading volume. As a result, there was a pullback below the $1,325 level.<\/p>\n<p>The price declined below the 23.6% Fib retracement level of the upward move from the $1,262 swing low to $1,343 high. Ether is still trading above $1,300 and the 100 hourly simple moving average.<\/p>\n<p>There is also a major bullish trend line forming with support near $1,292 on the hourly chart of ETH\/USD. An immediate resistance is near the $1,330 level. The next major resistance is near the $1,350 level. A clear move above the $1,350 resistance could another decent increase.<\/p>\n<p><a target=\"_blank\" href=\"https:\/\/newsbtc.com\/wp-content\/uploads\/2023\/01\/Ethereum-5.png\" rel=\"noopener\"><img decoding=\"async\" loading=\"lazy\" class=\"alignnone size-full wp-image-515474\" src=\"https:\/\/newsbtc.com\/wp-content\/uploads\/2023\/01\/Ethereum-5.png\" alt=\"Ethereum Price\" width=\"1834\" height=\"845\" srcset=\"https:\/\/newsbtc.com\/wp-content\/uploads\/2023\/01\/Ethereum-5.png 1834w, https:\/\/newsbtc.com\/wp-content\/uploads\/2023\/01\/Ethereum-5-460x212.png 460w, https:\/\/newsbtc.com\/wp-content\/uploads\/2023\/01\/Ethereum-5-860x396.png 860w, https:\/\/newsbtc.com\/wp-content\/uploads\/2023\/01\/Ethereum-5-768x354.png 768w, https:\/\/newsbtc.com\/wp-content\/uploads\/2023\/01\/Ethereum-5-1536x708.png 1536w, https:\/\/newsbtc.com\/wp-content\/uploads\/2023\/01\/Ethereum-5-750x346.png 750w, https:\/\/newsbtc.com\/wp-content\/uploads\/2023\/01\/Ethereum-5-1140x525.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>In the stated case, the price may perhaps climb higher towards the $1,400 resistance. The next major resistance could be $1,450, above which the price could surge towards the $1,500 resistance zone.<\/p>\n<h2>Dips Supported in ETH?<\/h2>\n<p>If ethereum fails to clear the $1,330 resistance, it could continue to move lower. An initial support on the downside is near the $1,305 level.<\/p>\n<p>The next major support is near the $1,292 level and the trend line. It is near the 61.8% Fib retracement level of the upward move from the $1,262 swing low to $1,343 high. A downside break below the trend line support might call for a move towards the $1,280 support. Any more losses might call for a test of the $1,250 zone.<\/p>\n<p>Technical Indicators<\/p>\n<p>Hourly MACD<strong> \u2013 <\/strong>The MACD for ETH\/USD is now losing momentum in the bullish zone.<\/p>\n<p>Hourly RSI<strong> \u2013 <\/strong>The RSI for ETH\/USD is now above the 50 level.<\/p>\n<p>Major Support Level \u2013 $1,280<\/p>\n<p>Major Resistance Level \u2013 $1,350<\/p>\n<\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/news.google.com\/__i\/rss\/rd\/articles\/CBMiQWh0dHBzOi8vbmV3c2J0Yy5jb20vYW5hbHlzaXMvZXRoL2V0aGVyZXVtLXByaWNlLXR1cm5zLWdyZWVuLTEzMDAv0gFFaHR0cHM6Ly9uZXdzYnRjLmNvbS9hbmFseXNpcy9ldGgvZXRoZXJldW0tcHJpY2UtdHVybnMtZ3JlZW4tMTMwMC9hbXAv?oc=5\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum extended its increase above the $1,300 resistance zone against the US Dollar. ETH tested the $1,350 zone and is currently correcting lower. Ethereum remained in a positive zone and climbed above the $1,300 and $1,320 resistance levels. The price is now trading above $1,300 and the 100 hourly simple moving average. There is a [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":40782,"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":[13287,158,4086,195,2395,2998],"class_list":["post-40781","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-decreasing","tag-ethereum","tag-green","tag-price","tag-turns","tag-volumes"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"http:\/\/egrowonline.com\/wp-content\/uploads\/2023\/01\/shutterstock_520106728-1.jpg","_links":{"self":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/40781","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=40781"}],"version-history":[{"count":1,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/40781\/revisions"}],"predecessor-version":[{"id":40783,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/40781\/revisions\/40783"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/media\/40782"}],"wp:attachment":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=40781"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=40781"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=40781"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}