{"id":1320,"date":"2024-11-18T06:00:22","date_gmt":"2024-11-18T06:00:22","guid":{"rendered":"https:\/\/ad-doge.com\/blog\/ethereum-price-confronts-barriers-to-a-new-surge-can-bulls-prevail\/"},"modified":"2024-11-18T06:00:22","modified_gmt":"2024-11-18T06:00:22","slug":"ethereum-price-confronts-barriers-to-a-new-surge-can-bulls-prevail","status":"publish","type":"post","link":"https:\/\/ad-doge.com\/blog\/ethereum-price-confronts-barriers-to-a-new-surge-can-bulls-prevail\/","title":{"rendered":"Ethereum Price Confronts Barriers to a New Surge\u2014Can Bulls Prevail?"},"content":{"rendered":"<p><em>Ethereum price started a downside correction below the $3,150 zone. ETH is now consolidating near $3,120 and might attempt a fresh increase.<\/em><\/p>\n<ul>\n<li>Ethereum started a short-term downside correction below the $3,150 zone.<\/li>\n<li>The price is trading below $3,200 and the 100-hourly Simple Moving Average.<\/li>\n<li>There is a short-term contracting triangle forming with resistance at $3,120 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n<li>The pair could start a fresh increase if it remains stable above the $3,040 zone.<\/li>\n<\/ul>\n<h2>Ethereum Price Eyes Fresh Increase<\/h2>\n<p>Ethereum price failed to start a fresh increase above the $3,250 zone and started a downside correction like Bitcoin. ETH declined below the $3,150 and $3,120 support levels.<\/p>\n<p>The bears even pushed the price below the $3,040 zone. It tested the $3,000 support zone. A low was formed at $3,016 and the price is now consolidating losses. It climbed above the 23.6% Fib retracement level of the downward move from the $3,340 swing high to the $3,016 low.<\/p>\n<p>Ethereum price is now trading below $3,200 and the 100-hourly Simple Moving Average. On the upside, the price seems to be facing hurdles near the $3,120 level. There is also a short-term contracting triangle forming with resistance at $3,120 on the hourly chart of ETH\/USD.<\/p>\n<p>The first major resistance is near the $3,180 level or the 50% Fib retracement level of the downward move from the $3,340 swing high to the $3,016 low. The main resistance is now forming near $3,220.<\/p>\n<p><img decoding=\"async\" data-recalc-dims=\"1\" class=\"wp-image-653600 size-full\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2024\/11\/Ethereum_052e3b.png?resize=1024%2C478\" alt=\"Ethereum Price\" width=\"1024\" height=\"478\" loading=\"lazy\" \/><\/p>\n<p>A clear move above the $3,220 resistance might send the price toward the $3,320 resistance. An upside break above the $3,320 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $3,450 resistance zone.<\/p>\n<h2>Another Decline In ETH?<\/h2>\n<p>If Ethereum fails to clear the $3,320 resistance, it could start another decline. Initial support on the downside is near the $3,060 level. The first major support sits near the $3,040 zone.<\/p>\n<p>A clear move below the $3,040 support might push the price toward $2,980. Any more losses might send the price toward the $2,920 support level in the near term. The next key support sits at $2,880.<\/p>\n<p>Technical Indicators<\/p>\n<p>Hourly MACD<strong> \u2013 <\/strong>The MACD for ETH\/USD is losing momentum in the bearish zone.<\/p>\n<p>Hourly RSI<strong> &#8211; <\/strong>The RSI for ETH\/USD is now below the 50 zone.<\/p>\n<p>Major Support Level \u2013 $3,040<\/p>\n<p>Major Resistance Level \u2013 $3,120<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum price started a downside correction below the $3,150 zone. ETH is now consolidating near $3,120 and might attempt a fresh increase. Ethereum started a short-term downside correction below the $3,150 zone. The price is trading below $3,200 and the 100-hourly Simple Moving Average. There is a short-term contracting triangle forming with resistance at $3,120&hellip;<\/p>\n","protected":false},"author":1,"featured_media":1321,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[141],"tags":[69,153,71,72,73],"class_list":["post-1320","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-eth","tag-eth","tag-ethbtc","tag-ethereum","tag-ethusd","tag-ethusdt"],"_links":{"self":[{"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/posts\/1320","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/comments?post=1320"}],"version-history":[{"count":0,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/posts\/1320\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/media\/1321"}],"wp:attachment":[{"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/media?parent=1320"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/categories?post=1320"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/tags?post=1320"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}