Ethereum Price Climbs Above $1,300, Is This A Clear Bullish Signal

Jan 8, 2023

Metablox NFT save memories to the blockchain

OWN PLACES • SAVE MEMORIES

Everyday we create memories that are attached to places, but how will future generations know what happened to us? 

Metablox is saving our most important memories on the blockchain, and you can own the real world places the memories happened.

Ethereum Price Climbs Above $1,300, Is This A Clear Bullish Signal

Originally posted here.
By: Aayush Jindal

Overview

Ethereum climbed higher and surpassed the $1,300 resistance zone against the US Dollar. ETH is consolidating gains and might aim more upsides towards the $1,400 resistance. Ethereum was able to gain pace for a move above the $1,275 and $1,280 resistance levels. The price is now trading above $1,280 and the 100 hourly simple moving average. There is a key bullish trend line forming with support near $1,270 on the hourly chart of ETH/USD (data feed via Kraken). The pair could rise further if it stays above the $1,270 support zone. Ethereum Price Regains $1,300 Ethereum price started a decent increase above the $1,250 level. ETH gained pace and was able to clear the $1,275 resistance zone, similar to bitcoin. The price even broke the $1,300 barrier to move into a bullish zone. A high is formed near $1,313 and the price is now consolidating gains. Ether price is clearly showing a lot of bullish signs above $1,280 and the 100 hourly simple moving average. There is also a key bullish trend line forming with support near $1,270 on the hourly chart of ETH/USD. It is positioned nicely above the 23.6% Fib retracement level of the recent rally from the $1,258 swing low to $1,313 high. Source: ETHUSD on TradingView.com An immediate resistance is near the $1,320 level. The next major resistance is near the $1,340 level. A clear move above the $1,340 resistance could another decent increase. In the stated case, the price may perhaps rise towards the $1,400 resistance. The next major resistance could be $1,450, above which the price could rise towards the $1,500 resistance zone. Dips Limited in ETH? If ethereum fails to clear the $1,320 resistance, it could start a short-term downside correction. An initial support on the downside is near the $1,300 level. The next major support is near the $1,270 level and the trend line. It is near the 61.8% Fib retracement level of the recent rally from the $1,258 swing low to $1,313 high. A downside break below the trend line support might send the price towards the $1,250 support. Any more losses might call for a test of the $1,220 zone. Technical Indicators Hourly MACD – The MACD for ETH/USD is now gaining momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now above the 50 level. Major Support Level – $1,270 Major Resistance Level – $1,320

The Post

Ethereum climbed higher and surpassed the $1,300 resistance zone against the US Dollar. ETH is consolidating gains and might aim more upsides towards the $1,400 resistance.

Ethereum was able to gain pace for a move above the $1,275 and $1,280 resistance levels.

The price is now trading above $1,280 and the 100 hourly simple moving average.

There is a key bullish trend line forming with support near $1,270 on the hourly chart of ETH/USD (data feed via Kraken).

The pair could rise further if it stays above the $1,270 support zone.

Ethereum Price Regains $1,300

Ethereum price started a decent increase above the $1,250 level. ETH gained pace and was able to clear the $1,275 resistance zone, similar to bitcoin .

The price even broke the $1,300 barrier to move into a bullish zone. A high is formed near $1,313 and the price is now consolidating gains. Ether price is clearly showing a lot of bullish signs above $1,280 and the 100 hourly simple moving average .

There is also a key bullish trend line forming with support near $1,270 on the hourly chart of ETH/USD. It is positioned nicely above the 23.6% Fib retracement level of the recent rally from the $1,258 swing low to $1,313 high.

Source: ETHUSD on TradingView.com

An immediate resistance is near the $1,320 level. The next major resistance is near the $1,340 level. A clear move above the $1,340 resistance could another decent increase. In the stated case, the price may perhaps rise towards the $1,400 resistance. The next major resistance could be $1,450, above which the price could rise towards the $1,500 resistance zone.

Dips Limited in ETH?

If ethereum fails to clear the $1,320 resistance, it could start a short-term downside correction. An initial support on the downside is near the $1,300 level.

The next major support is near the $1,270 level and the trend line. It is near the 61.8% Fib retracement level of the recent rally from the $1,258 swing low to $1,313 high. A downside break below the trend line support might send the price towards the $1,250 support. Any more losses might call for a test of the $1,220 zone.

Technical Indicators

Hourly MACD – The MACD for ETH/USD is now gaining momentum in the bullish zone.

Hourly RSI – The RSI for ETH/USD is now above the 50 level.

Major Support Level – $1,270

Major Resistance Level – $1,320

SHARE THIS POST

Add your voice!Join the conversation on Discord...