{"id":36221,"date":"2024-01-15T07:15:57","date_gmt":"2024-01-15T07:15:57","guid":{"rendered":"https:\/\/coingrafter.com\/index.php\/2024\/01\/15\/ethereum-price-faces-crucial-test-will-2440-withstand-the-pressure\/"},"modified":"2024-01-15T07:15:58","modified_gmt":"2024-01-15T07:15:58","slug":"ethereum-price-faces-crucial-test-will-2440-withstand-the-pressure","status":"publish","type":"post","link":"https:\/\/coingrafter.com\/index.php\/2024\/01\/15\/ethereum-price-faces-crucial-test-will-2440-withstand-the-pressure\/","title":{"rendered":"Ethereum Price Faces Crucial Test: Will $2,440 Withstand the Pressure?"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<p><em>Ethereum worth struggled to clear $2,720 and corrected positive aspects. ETH is now struggling to remain above the key $2,440 help zone and would possibly prolong losses.<\/em><\/p>\n<ul>\n<li>Ethereum climbed additional increased towards $2,720 earlier than the bears appeared.<\/li>\n<li>The worth is buying and selling beneath $2,550 and the 100-hourly Simple Moving Average.<\/li>\n<li>There is a connecting bearish pattern line forming with resistance close to $2,520 on the hourly chart of ETH\/USD (information feed through Kraken).<\/li>\n<li>The pair may begin a draw back thrust if it breaks the $2,440 help zone.<\/li>\n<\/ul>\n<h2>Ethereum Price Revisits Support<\/h2>\n<p>Ethereum worth outpaced <a href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-turns-at-risk-40k\/\" target=\"_blank\" rel=\"noopener\">Bitcoin<\/a> and prolonged its improve above the $2,550 resistance. ETH even broke the $2,600 zone and spiked above $2,700. Finally, the beards appeared close to the $2,720 resistance.<\/p>\n<p>A brand new multi-week excessive was shaped close to $2,716 earlier than the <a href=\"https:\/\/www.newsbtc.com\/analysis\/eth\/ethereum-price-holds-ground-2580\/\" target=\"_blank\" rel=\"noopener\">price corrected gains<\/a>. There was a transfer beneath the $2,600 and $2,550 ranges. The worth declined beneath the 23.6% Fib retracement stage of the upward transfer from the $2,170 swing low to the $2,716 excessive.<\/p>\n<p>Ethereum is now buying and selling beneath $2,550 and the 100-hourly Simple Moving Average. If there&#8217;s a recent improve, the worth would possibly face resistance close to the $2,520 stage. There can be a connecting bearish pattern line forming with resistance close to $2,520 on the hourly chart of ETH\/USD.<\/p>\n<p><a href=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2024\/01\/Ethereum-10.png?resize=1024%2C461\"><img decoding=\"async\" class=\"alignnone size-full wp-image-569537\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2024\/01\/Ethereum-10.png?resize=1024%2C461\" alt=\"Ethereum Price\" width=\"1024\" height=\"461\" loading=\"lazy\" data-recalc-dims=\"1\" \/><\/a><\/p>\n<p>Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/ETHUSD\/\" target=\"_blank\" rel=\"noopener nofollow\">ETHUSD on TradingView.com<\/a><\/p>\n<p>The subsequent main resistance is now close to $2,585. A transparent transfer above the $2,585 stage would possibly ship ETH towards $2,650. The most important resistance is now forming close to the $2,720 stage. An in depth above the $2,720 resistance may push the worth additional right into a bullish zone. The subsequent key resistance is close to $2,780. Any extra positive aspects would possibly ship the worth towards the $2,880 zone.<\/p>\n<h2>More Losses in ETH?<\/h2>\n<p>If Ethereum fails to clear the $2,520 resistance, it may proceed to maneuver down. Initial help on the draw back is close to the $2,440 stage or the 50% Fib retracement stage of the upward transfer from the $2,170 swing low to the $2,716 excessive.<\/p>\n<p>The subsequent key help could possibly be the $2,350 zone. A draw back break beneath the $2,350 help would possibly ship the worth additional decrease. In the said case, Ether may take a look at the $2,300 help. Any extra losses would possibly ship the worth towards the $2,240 stage.<\/p>\n<p>Technical Indicators<\/p>\n<p>Hourly MACD<strong> \u2013 <\/strong>The MACD for ETH\/USD is shedding momentum in the bullish zone.<\/p>\n<p>Hourly RSI<strong> &#8211; <\/strong>The RSI for ETH\/USD is now beneath the 50 stage.<\/p>\n<p>Major Support Level \u2013 $2,440<\/p>\n<p>Major Resistance Level \u2013 $2,585<\/p>\n<p>[ad_2]<br \/>\n<br \/><a href=\"https:\/\/www.newsbtc.com\/analysis\/eth\/ethereum-price-faces-crucial-test-2440\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] Ethereum worth struggled to clear $2,720 and corrected positive aspects. ETH is now struggling to remain above the key $2,440 help zone and would possibly prolong losses. Ethereum climbed additional increased towards $2,720 earlier than the bears appeared. The worth is buying and selling beneath $2,550 and the 100-hourly Simple Moving Average. There is 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