{"id":3037,"date":"2025-01-06T14:00:29","date_gmt":"2025-01-06T14:00:29","guid":{"rendered":"https:\/\/coinscap.info\/blog\/ethereum-price-on-the-rise-can-momentum-fuel-bigger-gains\/"},"modified":"2025-01-06T14:00:29","modified_gmt":"2025-01-06T14:00:29","slug":"ethereum-price-on-the-rise-can-momentum-fuel-bigger-gains","status":"publish","type":"post","link":"https:\/\/coinscap.info\/blog\/ethereum-price-on-the-rise-can-momentum-fuel-bigger-gains\/","title":{"rendered":"Ethereum Price on the Rise: Can Momentum Fuel Bigger Gains?"},"content":{"rendered":"<p><em>Ethereum price started a fresh recovery wave above the $3,550 zone. ETH is consolidating and aims for a fresh increase above the $3,700 resistance.<\/em><\/p>\n<ul>\n<li>Ethereum started a decent recovery wave above the $3,550 zone.<\/li>\n<li>The price is trading above $3,620 and the 100-hourly Simple Moving Average.<\/li>\n<li>There is a connecting bullish trend line forming with support at $3,620 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n<li>The pair could gain bullish momentum if it clears the $3,700 resistance level.<\/li>\n<\/ul>\n<h2>Ethereum Price Climbs Above $3,650<\/h2>\n<p>Ethereum price remained stable above the $3,420 level and extended its recovery wave like Bitcoin. ETH gained pace for a move above the $3,550 and $3,620 resistance levels.<\/p>\n<p>The bulls were able to surpass the $3,650 resistance level. It opened the doors for a move toward the $3,700 level. A high was formed at $3,694 and the price is now consolidating gains above the 23.6% Fib retracement level of the upward move from the $3,569 swing low to the $3,694 high.<\/p>\n<p>Ethereum price is now trading above $3,650 and the 100-hourly Simple Moving Average. There is also a connecting bullish trend line forming with support at $3,620 on the hourly chart of ETH\/USD. The trend line is close to the 76.4% Fib retracement level of the upward move from the $3,569 swing low to the $3,694 high.<\/p>\n<p>On the upside, the price seems to be facing hurdles near the $3,700 level. The first major resistance is near the $3,720 level. The main resistance is now forming near $3,800. A clear move above the $3,800 resistance might send the price toward the $3,880 resistance.<\/p>\n<p><img decoding=\"async\" data-recalc-dims=\"1\" loading=\"lazy\" class=\"size-full wp-image-671122\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2025\/01\/Ethereum_cb69c0.png?resize=1024%2C478\" alt=\"Ethereum Price\" width=\"1024\" height=\"478\" \/><\/p>\n<p>An upside break above the $3,880 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $3,920 resistance zone or even $4,000 in the near term.<\/p>\n<h2>Another Decline In ETH?<\/h2>\n<p>If Ethereum fails to clear the $3,700 resistance, it could start another decline. Initial support on the downside is near the $3,620 level and the trend line. The first major support sits near the $3,550.<\/p>\n<p>A clear move below the $3,550 support might push the price toward the $3,500 support. Any more losses might send the price toward the $3,420 support level in the near term. The next key support sits at $3,350.<\/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 $3,620<\/p>\n<p>Major Resistance Level \u2013 $3,700<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum price started a fresh recovery wave above the $3,550 zone. ETH is consolidating and aims for a fresh increase above the $3,700 resistance. Ethereum started a decent recovery wave above the $3,550 zone. The price is trading above $3,620 and the 100-hourly Simple Moving Average. There is a connecting bullish trend line forming with&hellip;<\/p>\n","protected":false},"author":1,"featured_media":3038,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19],"tags":[38,40,39,41,42],"class_list":["post-3037","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:\/\/coinscap.info\/blog\/wp-json\/wp\/v2\/posts\/3037","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscap.info\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscap.info\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscap.info\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscap.info\/blog\/wp-json\/wp\/v2\/comments?post=3037"}],"version-history":[{"count":0,"href":"https:\/\/coinscap.info\/blog\/wp-json\/wp\/v2\/posts\/3037\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscap.info\/blog\/wp-json\/wp\/v2\/media\/3038"}],"wp:attachment":[{"href":"https:\/\/coinscap.info\/blog\/wp-json\/wp\/v2\/media?parent=3037"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscap.info\/blog\/wp-json\/wp\/v2\/categories?post=3037"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscap.info\/blog\/wp-json\/wp\/v2\/tags?post=3037"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}