{"id":959,"date":"2024-10-29T06:00:21","date_gmt":"2024-10-29T06:00:21","guid":{"rendered":"https:\/\/ad-doge.com\/blog\/ethereum-price-follows-bitcoins-rally-but-momentum-falls-short\/"},"modified":"2024-10-29T06:00:21","modified_gmt":"2024-10-29T06:00:21","slug":"ethereum-price-follows-bitcoins-rally-but-momentum-falls-short","status":"publish","type":"post","link":"https:\/\/ad-doge.com\/blog\/ethereum-price-follows-bitcoins-rally-but-momentum-falls-short\/","title":{"rendered":"Ethereum Price Follows Bitcoin\u2019s Rally, But Momentum Falls Short"},"content":{"rendered":"<p><em>Ethereum price started a fresh increase above the $2,550 resistance. ETH is following Bitcoin\u2019s rally, but it is lacking the same strength.<\/em><\/p>\n<ul>\n<li>Ethereum started a decent increase above the $2,600 zone.<\/li>\n<li>The price is trading above $2,550 and the 100-hourly Simple Moving Average.<\/li>\n<li>There is a connecting bullish trend line forming with support at $2,520 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n<li>The pair could continue to rise if it clears the $2,630 and $2,650 resistance levels.<\/li>\n<\/ul>\n<h2>Ethereum Price Starts Steady Increase<\/h2>\n<p>Ethereum price formed a base above the $2,450 level and started a fresh increase like Bitcoin. ETH climbed above the $2,500 and $2,550 resistance levels to move into a positive zone.<\/p>\n<p>The price is up over 5% and there was a move above the $2,600 level. A high is formed at $2,630 and the price is showing positive signs. It is holding gains above the 23.6% Fib retracement level of the upward move from the $2,487 swing low to the $2,630 high.<\/p>\n<p>Ethereum price is now trading above $2,550 and the 100-hourly Simple Moving Average. There is also a connecting bullish trend line forming with support at $2,520 on the hourly chart of ETH\/USD.<\/p>\n<p>On the upside, the price seems to be facing hurdles near the $2,630 level. The first major resistance is near the $2,650 level. The main resistance is now forming near $2,720. A clear move above the $2,720 resistance might send the price toward the $2,880 resistance.<\/p>\n<p><img decoding=\"async\" data-recalc-dims=\"1\" loading=\"lazy\" class=\"wp-image-650440 size-full\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2024\/10\/Ethereum_d84a15.png?resize=1024%2C478\" alt=\"Ethereum Price\" width=\"1024\" height=\"478\" \/><\/p>\n<p>An upside break above the $2,880 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $2,950 resistance zone.<\/p>\n<h2>Downside Correction In ETH?<\/h2>\n<p>If Ethereum fails to clear the $2,650 resistance, it could start a downside correction. Initial support on the downside is near the $2,595 level. The first major support sits near the $2,550 zone or the 50% Fib retracement level of the upward move from the $2,487 swing low to the $2,630 high.<\/p>\n<p>A clear move below the $2,550 support might push the price toward $2,520. Any more losses might send the price toward the $2,450 support level in the near term. The next key support sits at $2,320.<\/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 above the 50 zone.<\/p>\n<p>Major Support Level \u2013 $2,550<\/p>\n<p>Major Resistance Level \u2013 $2,650<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum price started a fresh increase above the $2,550 resistance. ETH is following Bitcoin\u2019s rally, but it is lacking the same strength. Ethereum started a decent increase above the $2,600 zone. The price is trading above $2,550 and the 100-hourly Simple Moving Average. There is a connecting bullish trend line forming with support at $2,520&hellip;<\/p>\n","protected":false},"author":1,"featured_media":960,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[141],"tags":[69,153,71,72,73],"class_list":["post-959","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\/959","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=959"}],"version-history":[{"count":0,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/posts\/959\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/media\/960"}],"wp:attachment":[{"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/media?parent=959"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/categories?post=959"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/tags?post=959"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}