{"id":347,"date":"2024-10-10T04:00:20","date_gmt":"2024-10-10T04:00:20","guid":{"rendered":"https:\/\/ad-doge.com\/blog\/ethereum-price-retests-2350-is-a-bounce-in-the-cards\/"},"modified":"2024-10-10T04:00:20","modified_gmt":"2024-10-10T04:00:20","slug":"ethereum-price-retests-2350-is-a-bounce-in-the-cards","status":"publish","type":"post","link":"https:\/\/ad-doge.com\/blog\/ethereum-price-retests-2350-is-a-bounce-in-the-cards\/","title":{"rendered":"Ethereum Price Retests $2,350: Is a Bounce In The Cards?"},"content":{"rendered":"<p><em>Ethereum price extended losses and tested the $2,350 support. ETH is now consolidating and might aim for a fresh increase above the $2,400 resistance.<\/em><\/p>\n<ul>\n<li>Ethereum started a downside correction below the $2,400 zone.<\/li>\n<li>The price is trading just above $2,420 and the 100-hourly Simple Moving Average.<\/li>\n<li>There was a break below a short-term rising channel with support at $2,425 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n<li>The pair must stay above the $2,350 support level to start another increase in the near term.<\/li>\n<\/ul>\n<h2>Ethereum Price Dips Further<\/h2>\n<p>Ethereum price failed to start a fresh increase above the $2,500 resistance zone. ETH remained in a bearish zone like Bitcoin and traded below the $2,420 support zone.<\/p>\n<p>There was also a move below the $2,400 level. There was a break below a short-term rising channel with support at $2,425 on the hourly chart of ETH\/USD. The price tested the $2,350 support zone. A low was formed at $2,350 and the price is now rising.<\/p>\n<p>There was a move above the $2,350 and $2,360 levels. The price climbed above the 23.6% Fib retracement level of the downward move from the $2,467 swing high to the $2,350 low.<\/p>\n<p>Ethereum price is now trading below $2,425 and the 100-hourly Simple Moving Average. On the upside, the price seems to be facing hurdles near the $2,400 level or the 50% Fib retracement level of the downward move from the $2,467 swing high to the $2,350 low at $2,410.<\/p>\n<p><img decoding=\"async\" data-recalc-dims=\"1\" class=\"wp-image-647242 size-full\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2024\/10\/Ethereum_5915ec.png?resize=1024%2C478\" alt=\"Ethereum Price\" width=\"1024\" height=\"478\" loading=\"lazy\" \/><\/p>\n<p>A clear move above the $2,410 resistance might send the price toward the $2,450 resistance. An upside break above the $2,450 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $2,550 resistance zone in the near term. The next hurdle sits near the $2,600 level or $2,620.<\/p>\n<h2>More Losses In ETH?<\/h2>\n<p>If Ethereum fails to clear the $2,410 resistance, it could start another decline. Initial support on the downside is near the $2,365 level. The first major support sits near the $2,350 zone.<\/p>\n<p>A clear move below the $2,350 support might push the price toward $2,300. 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 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 $2,350<\/p>\n<p>Major Resistance Level \u2013 $2,410<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum price extended losses and tested the $2,350 support. ETH is now consolidating and might aim for a fresh increase above the $2,400 resistance. Ethereum started a downside correction below the $2,400 zone. The price is trading just above $2,420 and the 100-hourly Simple Moving Average. There was a break below a short-term rising channel&hellip;<\/p>\n","protected":false},"author":1,"featured_media":348,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[141],"tags":[69,153,71,72,73],"class_list":["post-347","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\/347","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=347"}],"version-history":[{"count":0,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/posts\/347\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/media\/348"}],"wp:attachment":[{"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/media?parent=347"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/categories?post=347"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/tags?post=347"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}