{"id":859,"date":"2024-10-24T04:00:19","date_gmt":"2024-10-24T04:00:19","guid":{"rendered":"https:\/\/ad-doge.com\/blog\/ethereum-price-faces-key-hurdles-can-it-break-through\/"},"modified":"2024-10-24T04:00:19","modified_gmt":"2024-10-24T04:00:19","slug":"ethereum-price-faces-key-hurdles-can-it-break-through","status":"publish","type":"post","link":"https:\/\/ad-doge.com\/blog\/ethereum-price-faces-key-hurdles-can-it-break-through\/","title":{"rendered":"Ethereum Price Faces Key Hurdles: Can It Break Through?"},"content":{"rendered":"<p><em>Ethereum price extended losses and tested the $2,450 support zone. ETH is recovering losses and faces many hurdles near the $2,550 level.<\/em><\/p>\n<ul>\n<li>Ethereum started a downside correction below the $2,550 support.<\/li>\n<li>The price is trading below $2,550 and the 100-hourly Simple Moving Average.<\/li>\n<li>There is a key bearish trend line forming with resistance at $2,560 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n<li>The pair could start a fresh increase if it clears the $2,550 and $2,600 resistance levels.<\/li>\n<\/ul>\n<h2>Ethereum Price Starts Recovery<\/h2>\n<p>Ethereum price extended its decline below the $2,600 level like Bitcoin. ETH traded below the $2,550 and $2,500 support levels to enter a short-term bearish zone.<\/p>\n<p>The price traded as low as $2,445 and is currently correcting losses. There was a minor increase above the $2,500 level. The price traded above the 23.6% Fib retracement level of the downward move from the $2,758 swing high to the $2,445 low.<\/p>\n<p>Ethereum price is now trading below $2,550 and the 100-hourly Simple Moving Average. On the upside, the price seems to be facing hurdles near the $2,550 level. There is also a key bearish trend line forming with resistance at $2,560 on the hourly chart of ETH\/USD.<\/p>\n<p>The first major resistance is near the $2,600 level. It is close to the 50% Fib retracement level of the downward move from the $2,758 swing high to the $2,445 low.<\/p>\n<p><img decoding=\"async\" data-recalc-dims=\"1\" class=\"wp-image-649582 size-full\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2024\/10\/Ethereum_e152c3.png?resize=1024%2C478\" alt=\"Ethereum Price\" width=\"1024\" height=\"478\" loading=\"lazy\" \/><\/p>\n<p>A clear move above the $2,600 resistance might send the price toward the $2,650 resistance. An upside break above the $2,650 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $2,700 resistance zone in the near term. The next hurdle sits near the $2,720 level or $2,750.<\/p>\n<h2>Another Decline In ETH?<\/h2>\n<p>If Ethereum fails to clear the $2,550 resistance, it could start another decline. Initial support on the downside is near the $2,520 level. The first major support sits near the $2,500 zone.<\/p>\n<p>A clear move below the $2,500 support might push the price toward $2,450. Any more losses might send the price toward the $2,450 support level in the near term. The next key support sits at $2,420.<\/p>\n<p>Technical Indicators<\/p>\n<p>Hourly MACD<strong> \u2013 <\/strong>The MACD for ETH\/USD is gaining momentum in the bullish zone.<\/p>\n<p>Hourly RSI<strong> &#8211; <\/strong>The RSI for ETH\/USD is now near the 50 zone.<\/p>\n<p>Major Support Level \u2013 $2,450<\/p>\n<p>Major Resistance Level \u2013 $2,550<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum price extended losses and tested the $2,450 support zone. ETH is recovering losses and faces many hurdles near the $2,550 level. Ethereum started a downside correction below the $2,550 support. The price is trading below $2,550 and the 100-hourly Simple Moving Average. There is a key bearish trend line forming with resistance at $2,560&hellip;<\/p>\n","protected":false},"author":1,"featured_media":860,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[141],"tags":[69,153,71,72,73],"class_list":["post-859","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\/859","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=859"}],"version-history":[{"count":0,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/posts\/859\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/media\/860"}],"wp:attachment":[{"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/media?parent=859"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/categories?post=859"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/tags?post=859"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}