Ethereum

Bitcoin

Resistance

Ethereum price is still struggling to clear the $2,265 resistance while Bitcoin extended gains. ETH could rally if there is a close above $2,265 and then $2,320. 
<ul> 
 <li>Ethereum is still struggling to gain pace for a move above the $2,265 resistance zone.</li> 
 <li>The price is trading above $2,220 and the 100-hourly Simple Moving Average.</li> 
 <li>There is a key bullish trend line forming with support near $2,180 on the hourly chart of ETH/USD (data feed via Kraken).</li> 
 <li>The pair could start a strong increase if there is a close above $2,265 and $2,320.</li> 
</ul> 
<h2 id="ethereum-price-aims-higher">Ethereum Price Aims Higher</h2> 
Ethereum price managed to stay above the <a href="https://www.newsbtc.com/analysis/eth/ethereum-price-struggles-bitcoin-jumps-2250/" target="_blank" rel="noopener ">$2,200 support zone</a>. The bulls protected a major downside break and pushed the price above the $2,220 level. 
There was a push above the $2,250 level, but the bears are still active near the $2,265 resistance zone. A high was formed near $2,264 and the price is now consolidating gains near the 23.6% Fib retracement level of the recent increase from the $2,155 swing low to the $2,264 high. 
Ethereum is now trading above $2,220 and the <a href="https://www.newsbtc.com/analysis/eth/ethereum-price-drop-2120/" target="_blank" rel="noopener ">100-hourly Simple Moving Average</a>. There is also a key bullish trend line forming with support near $2,180 on the hourly chart of ETH/USD. 
On the upside, the price is facing resistance near the $2,265 level. A close above the $2,265 barrier could start a decent increase. The next key resistance is near the $2,320 level. A clear move above the $2,320 zone could send the price toward the $2,400 level. 
<a href="https://www.newsbtc.com/wp-content/uploads/2023/12/Ethereum-14.png?resize=1024%2C461"><img loading="lazy" decoding="async" class="alignnone size-full wp-image-566476" src="https://www.newsbtc.com/wp-content/uploads/2023/12/Ethereum-14.png?resize=1024%2C461" alt="Ethereum Price" width="1024" height="461" srcset="https://www.newsbtc.com/wp-content/uploads/2023/12/Ethereum-14.png?resize=1024%2C461?w=1835 1835w, https://www.newsbtc.com/wp-content/uploads/2023/12/Ethereum-14.png?resize=1024%2C461?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2023/12/Ethereum-14.png?resize=1024%2C461?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2023/12/Ethereum-14.png?resize=1024%2C461?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2023/12/Ethereum-14.png?resize=1024%2C461?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2023/12/Ethereum-14.png?resize=1024%2C461?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2023/12/Ethereum-14.png?resize=1024%2C461?w=1140 1140w" sizes="(max-width: 1000px) 100vw, 1000px" data-recalc-dims="1"></a> 
Source: <a href="https://www.tradingview.com/symbols/ETHUSD/" target="_blank" rel="noopener nofollow">ETHUSD on TradingView.com</a> 
The next resistance sits at $2,420. Any more gains could start a wave toward the $2,500 level, above which Ethereum might rally and test the $2,550 zone. 
<h2 id="another-rejection-in-eth">Another Rejection in ETH?</h2> 
If Ethereum fails to clear the $2,265 resistance, it could start another decline. Initial support on the downside is near the $2,220 level and the 100 hourly SMA. 
The first key support could be the $2,180 zone and the trend line. A downside break and a close below $2,180 might send the price further lower. In the stated case, Ether could revisit the $2,120 support. Any more losses might send the price toward the $2,000 level in the coming sessions. 
Technical Indicators 
Hourly MACD – The MACD for ETH/USD is losing momentum in the bullish zone. 
Hourly RSI – The RSI for ETH/USD is now above the 50 level. 
Major Support Level – $2,180 
Major Resistance Level – $2,265

Ethereum Price Reaches Key Juncture – Can Bulls Pump ETH To $2,500?

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