{"id":169356,"date":"2023-01-10T05:26:51","date_gmt":"2023-01-10T05:26:51","guid":{"rendered":"https:\/\/precoinnews.com\/?p=169356"},"modified":"2023-01-10T05:26:51","modified_gmt":"2023-01-10T05:26:51","slug":"ethereum-price-analysis-upside-break-could-trigger-more-gains","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/ethereum-price-analysis-upside-break-could-trigger-more-gains\/","title":{"rendered":"Ethereum Price Analysis: Upside Break Could Trigger More Gains"},"content":{"rendered":"
Ethereum price is rising above the $1,250 level against the US Dollar. ETH\/USD could rise further if it clears the $1,350 resistance zone.<\/em><\/p>\n In the past few days, ethereum saw a decent increase above the $1,220 level against the US Dollar. ETH price was able to gain pace for a move above the $1,250 level and the 55 simple moving average (4-hours).<\/p>\n The bulls even cleared the $1,300 resistance zone. The price even spiked above the $1,320 level and formed a high near the $1,345 level. ETH is now consolidating gains above the $1,300 level. It is consolidating near the 23.6% Fib retracement level of the upward move from the $1,234 swing low to $1,345 high.<\/p>\n It is now trading above $1,250 and the 55 simple moving average (4-hours). An immediate resistance on the upside is near the $1,340 level. The next major resistance is near the $1,350 zone.<\/p>\n Any more gains could even send the price towards the $1,350 resistance zone in the near term. On the downside, an initial support is near the $1,310 level.<\/p>\n The next major support is now near the $1,300 level. There is also a key bullish trend line forming with support near $1,300 on the 4-hours chart. The main support is near the $1,290 level or the 50% Fib retracement level of the upward move from the $1,234 swing low to $1,345 high.<\/p>\n A break below the $1,290 support could push the price to $1,250. Any more losses could lead the price towards $1,210 or even $1,200 in the coming days.<\/p>\n <\/p>\n Ethereum Price<\/p>\n Looking at the chart, Ethereum price is clearly trading above the $1,250 zone and the 55 simple moving average (4-hours). Overall, ether price could climb further if it clears the $1,350 resistance zone.<\/p>\n 4 hours MACD \u2013 The MACD for ETH\/USD is now gaining momentum in the bullish zone.<\/p>\n 4 hours RSI (Relative Strength Index) \u2013 The RSI for ETH\/USD is now above the 50 level.<\/p>\n Key Support Levels \u2013 $1,300, followed by the $1,290 zone.<\/p>\n Key Resistance$ Levels \u2013 $1,340 and $1,350.<\/p>\nEthereum Price Analysis<\/h2>\n
Technical indicators<\/h2>\n