{"id":259,"date":"2024-10-08T04:00:19","date_gmt":"2024-10-08T04:00:19","guid":{"rendered":"https:\/\/ad-doge.com\/blog\/ethereum-price-dips-again-is-this-a-buying-opportunity\/"},"modified":"2024-10-08T04:00:19","modified_gmt":"2024-10-08T04:00:19","slug":"ethereum-price-dips-again-is-this-a-buying-opportunity","status":"publish","type":"post","link":"https:\/\/ad-doge.com\/blog\/ethereum-price-dips-again-is-this-a-buying-opportunity\/","title":{"rendered":"Ethereum Price Dips Again: Is This a Buying Opportunity?"},"content":{"rendered":"<p><em>Ethereum price extended its increase above the $2,500 zone. ETH is now correcting gains and might find support near the $2,400 zone.<\/em><\/p>\n<ul>\n<li>Ethereum started a downside correction from the $2,520 zone.<\/li>\n<li>The price is trading below $2,450 and the 100-hourly Simple Moving Average.<\/li>\n<li>There was a break below a key bullish trend line with support at $2,450 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n<li>The pair must stay above the $2,400 support level to start another increase in the near term.<\/li>\n<\/ul>\n<h2>Ethereum Price Corrects Gains<\/h2>\n<p>Ethereum price extended its upward move above the $2,400 level. ETH was able to clear the $2,450 resistance to move into a positive zone like Bitcoin. The price was able to climb above the $2,500 resistance zone.<\/p>\n<p>However, the bears were active above $2,500. A high was formed at $2,519 and the price started a downside correction. There was a move below the $2,450 support level. The price dipped below the 23.6% Fib retracement level of the upward move from the $2,311 swing low to the $2,519 high.<\/p>\n<p>Besides, there was a break below a key bullish trend line with support at $2,450 on the hourly chart of ETH\/USD. Ethereum price is now trading below $2,450 and the 100-hourly Simple Moving Average.<\/p>\n<p>However, the bulls are protecting the 50% Fib retracement level of the upward move from the $2,311 swing low to the $2,519 high. On the upside, the price seems to be facing hurdles near the $2,450 level. A clear move above the $2,450 resistance might send the price toward the $2,500 resistance.<\/p>\n<p><img decoding=\"async\" data-recalc-dims=\"1\" class=\"wp-image-646843 size-full\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2024\/10\/Ethereum_c04d79.png?resize=1024%2C478\" alt=\"Ethereum Price\" width=\"1024\" height=\"478\" loading=\"lazy\" \/><\/p>\n<p>An upside break above the $2,500 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $2,580 resistance zone in the near term. The next hurdle sits near the $2,650 level or $2,665.<\/p>\n<h2>More Losses In ETH?<\/h2>\n<p>If Ethereum fails to clear the $2,450 resistance, it could start another decline. Initial support on the downside is near the $2,420 level. The first major support sits near the $2,400 zone.<\/p>\n<p>A clear move below the $2,400 support might push the price toward $2,320. Any more losses might send the price toward the $2,250 support level in the near term. The next key support sits at $2,120.<\/p>\n<p>Technical Indicators<\/p>\n<p>Hourly MACD<strong> \u2013 <\/strong>The MACD for ETH\/USD is losing momentum in the bullish 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 $2,400<\/p>\n<p>Major Resistance Level \u2013 $2,450<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum price extended its increase above the $2,500 zone. ETH is now correcting gains and might find support near the $2,400 zone. Ethereum started a downside correction from the $2,520 zone. The price is trading below $2,450 and the 100-hourly Simple Moving Average. There was a break below a key bullish trend line with support&hellip;<\/p>\n","protected":false},"author":1,"featured_media":260,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[141],"tags":[69,153,71,72,73],"class_list":["post-259","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\/259","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=259"}],"version-history":[{"count":0,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/posts\/259\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/media\/260"}],"wp:attachment":[{"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/media?parent=259"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/categories?post=259"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/tags?post=259"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}