{"id":1963,"date":"2024-12-24T05:11:06","date_gmt":"2024-12-24T05:11:06","guid":{"rendered":"https:\/\/bitcotasks.com\/blog\/ethereum-price-attempts-a-comeback-is-a-rebound-imminent\/"},"modified":"2024-12-24T05:11:06","modified_gmt":"2024-12-24T05:11:06","slug":"ethereum-price-attempts-a-comeback-is-a-rebound-imminent","status":"publish","type":"post","link":"https:\/\/bitcotasks.com\/blog\/ethereum-price-attempts-a-comeback-is-a-rebound-imminent\/","title":{"rendered":"Ethereum Price Attempts a Comeback: Is a Rebound Imminent?"},"content":{"rendered":"<p><em>Ethereum price extended losses and dropped below the $3,450 zone. ETH is now recovering some losses and might rise if it clears the $3,445 resistance.<\/em><\/p>\n<ul>\n<li>Ethereum started a fresh decline below the $3,500 zone.<\/li>\n<li>The price is trading below $3,450 and the 100-hourly Simple Moving Average.<\/li>\n<li>There was a break above a connecting bearish trend line with resistance at $3,300 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n<li>The pair could start a decent increase if it clears the $3,450 and $3,500 resistance levels.<\/li>\n<\/ul>\n<h2>Ethereum Price Stays Above $3,200<\/h2>\n<p>Ethereum price struggled to start a fresh increase above the $3,500 level and extended losses like Bitcoin. ETH gained bearish momentum below the $3,400 level and traded below $3,320.<\/p>\n<p>The price is now consolidating above the $3,220 and $3,200 support levels. A low was formed at $3,220 and the price is now consolidating losses. There was a break above the $3,250 level. The price cleared the 50% Fib retracement level of the downward move from the $3,553 swing high to the $3,220 low.<\/p>\n<p>There was a\u00a0 break above a connecting bearish trend line with resistance at $3,300 on the hourly chart of ETH\/USD. Ethereum price is now trading below $3,450 and the 100-hourly Simple Moving Average.<\/p>\n<p>On the upside, the price seems to be facing hurdles near the $3,445 level. It is close to the 61.8% Fib retracement level of the downward move from the $3,553 swing high to the $3,220 low. The first major resistance is near the $3,480 level.<\/p>\n<p><img decoding=\"async\" data-recalc-dims=\"1\" class=\"size-full wp-image-666641\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2024\/12\/Ethereum_994d39.png?resize=1024%2C478\" alt=\"Ethereum Price\" width=\"1024\" height=\"478\" loading=\"lazy\" \/><\/p>\n<p>The main resistance is now forming near $3,550. A clear move above the $3,550 resistance might send the price toward the $3,650 resistance. An upside break above the $3,650 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $3,720 resistance zone or even $3,800.<\/p>\n<h2>Another Decline In ETH?<\/h2>\n<p>If Ethereum fails to clear the $3,445 resistance, it could continue to move down. Initial support on the downside is near the $3,300 level. The first major support sits near the $3,220 zone.<\/p>\n<p>A clear move below the $3,200 support might push the price toward the $3,120 support. Any more losses might send the price toward the $3,050 support level in the near term. The next key support sits at $3,000.<\/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 above the 50 zone.<\/p>\n<p>Major Support Level \u2013 $3,220<\/p>\n<p>Major Resistance Level \u2013 $3,445<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum price extended losses and dropped below the $3,450 zone. ETH is now recovering some losses and might rise if it clears the $3,445 resistance. Ethereum started a fresh decline below the $3,500 zone. The price is trading below $3,450 and the 100-hourly Simple Moving Average. There was a break above a connecting bearish trend&hellip;<\/p>\n","protected":false},"author":1,"featured_media":1964,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[147],"tags":[138,148,102,104,105],"class_list":["post-1963","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:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/posts\/1963","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/comments?post=1963"}],"version-history":[{"count":0,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/posts\/1963\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/media\/1964"}],"wp:attachment":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/media?parent=1963"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/categories?post=1963"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/tags?post=1963"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}