{"id":225022,"date":"2024-01-07T00:15:48","date_gmt":"2024-01-06T18:45:48","guid":{"rendered":"https:\/\/dripp.zone\/news\/will-ethereum-price-soar-to-2500-multiple-support-sets-stage-for-relief-rally-crypto-news\/"},"modified":"2024-01-07T00:15:51","modified_gmt":"2024-01-06T18:45:51","slug":"will-ethereum-price-soar-to-2500-multiple-support-sets-stage-for-relief-rally-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/will-ethereum-price-soar-to-2500-multiple-support-sets-stage-for-relief-rally-crypto-news\/","title":{"rendered":"Will Ethereum Price Soar to $2500? Multiple Support Sets Stage for Relief Rally &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div id=\"post-172653\">\n<p>\nEthereum Price Prediction: The $2140 demand pressure offers buyers a suitable springboard to release a new recovery push.\t\t\t\t<\/p>\n<p><!--\n     \n\n<div class=\"marketThumbs\">\n             <noscript><img width=\"1200\" height=\"578\" src=\"https:\/\/coingape.com\/wp-content\/uploads\/2024\/01\/2dHNUbqJ-e1704563367192.png\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"ETH price\" decoding=\"async\" fetchpriority=\"high\" \/><\/noscript><\/div>\n\n\n--><\/p>\n<p class=\"MarketsUp f-14 d-block\">  Published 48 mins ago <\/p>\n<div class=\"Atcs\">\n<p><span style=\"font-weight: 400;\">For over a month, the second largest cryptocurrency Ethereum(ETH) has been trading sideways resonating between two horizontal levels of $2140 and $2400. Despite a heavy sell-off on January 4th, the ETH price showcased its sustainability above the $2140 support which is above the safety net of 38.2% Fibonacci retracement level. The combined support could offer buyers an opportunity to revive the exhausted bullish momentum and extend the recovery trend.<\/span><\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.72.1 --><\/p>\n<h2><b>Will Market Correction Push Ethereum Price Below $2000<\/b><\/h2>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">A bullish breakout from $2400 will release the buildup of bullish momentum<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">A confluence of several technical levels creates strong support at $2140<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The intraday trading volume in Ether is $10.2 Billion, indicating a 45% gain.<\/span><\/li>\n<\/ul>\n<figure style=\"width: 1946px\" class=\"wp-caption alignnone\"><img loading=\"lazy\" decoding=\"async\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\" http:=\"\" alt=\"Ethereum Price\" width=\"1946\" height=\"937\" data-lazy-src=\"https:\/\/s3.tradingview.com\/snapshots\/2\/2dHNUbqJ.png\"\/><noscript><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/s3.tradingview.com\/snapshots\/2\/2dHNUbqJ.png\" alt=\"Ethereum Price\" width=\"1946\" height=\"937\"\/><\/noscript><figcaption class=\"wp-caption-text\">Ethereum Price| TradingView Chart<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">Amid the increasing uncertainty in the crypto market, the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/price\/ethereum\/\">Ethereum price<\/a> witnessed another reversal from the $2400 resistance. In the last five days, the coin price plunged 7.5% to currently trade at $2247.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The buyers are obtaining suitable support at the combined support of $2140 and 38.2% Fibonacci retracement level. Such a degree of correction indicates the buyers continue to have an upper hand over this asset which may result in a stronger bounce back.<\/span><\/p>\n<blockquote>\n<p><span style=\"font-weight: 400;\">Moreover, the U.S. Securities and Exchange Commission (SEC) is showing signs of moving closer to the approval of the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/bitcoin-etf-approval-in-final-stage-before-secs-19b-4-submissions-report\/\">first spot Bitcoin exchange-traded funds (ETFs)<\/a> in the United States. This progress is marked by the submission of amended 19b-4 filings by exchanges that are expected to list these ETFs.<\/span><\/p>\n<\/blockquote>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.72.1 --><\/p>\n<p><span style=\"font-weight: 400;\">With a high possibility of spot Bitcoin approval next week, the newcomers can look for bullish reversal opportunities at $2140 support. A potential bounce back from this support could push the coin price 7% to challenge $2400, whose breakout will better confirm an uptrend continuation.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The post-breakout rally could surge the ETH price to $2675 and higher.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">BTC vs ETH Performance<\/span><\/h2>\n<p><span style=\"font-weight: 400;\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-172654\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\" http:=\"\" alt=\"ETH price\" width=\"1200\" height=\"675\" data-lazy-src=\"https:\/\/coingape.com\/wp-content\/uploads\/2024\/01\/image_2024-01-06_23-03-40-e1704562774173.png\"\/><noscript><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-172654\" src=\"https:\/\/coingape.com\/wp-content\/uploads\/2024\/01\/image_2024-01-06_23-03-40-e1704562774173.png\" alt=\"ETH price\" width=\"1200\" height=\"675\"\/><\/noscript>Source: Coingape| Bitcoin Vs Ethereum Price<\/span><\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.72.1 --><\/p>\n<p><span style=\"font-weight: 400;\">In recent market trends, Bitcoin and Ethereum have both shown a pattern of gradual recovery with higher highs and lows. However, the ETH price has somewhat underperformed, evidenced by the formation of a new lower high in its price trajectory. The anticipated approval of a spot Bitcoin ETF is expected to provide a significant boost to Bitcoin\u2019s market sentiment, potentially increasing its appeal to a broader range of investors and strengthening its market position.<\/span><\/p>\n<ul>\n<li aria-level=\"1\"><b>Exponential Moving Average (EMA): <\/b><span style=\"font-weight: 400;\">The 20-and-50-day <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/education\/exponential-moving-average-how-to-leverage-it-in-crypto-market\/\">EMA<\/a> continues to act as dynamic support to ETH price<\/span><\/li>\n<li aria-level=\"1\"><b>Moving Average Convergence Divergence: <\/b><span style=\"font-weight: 400;\">A bearish crossover state <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/glossary\/macd-moving-average-convergence-divergnece\/\">MACD<\/a>(blue) and signal(orange) reflect a correction mode that is active<\/span><\/li>\n<\/ul>\n<h3>Related Article:<\/h3>\n<p><noscript><link rel=\"stylesheet\" id=\"quads-style-css-css\" href=\"https:\/\/coingape.com\/wp-content\/plugins\/quick-adsense-reloaded\/includes\/gutenberg\/dist\/blocks.style.build.css?ver=2.0.72.1\" type=\"text\/css\" media=\"all\"\/><link rel=\"stylesheet\" id=\"dscf7-math-captcha-style-css\" href=\"https:\/\/coingape.com\/wp-content\/plugins\/ds-cf7-math-captcha\/assets\/css\/style.css?ver=6.3.2\" type=\"text\/css\" media=\"1\"\/><link data-minify=\"1\" rel=\"stylesheet\" id=\"parent-style-css\" href=\"https:\/\/coingape.com\/wp-content\/cache\/min\/1\/wp-content\/themes\/mh-magazine\/style.css?ver=1704455680\" type=\"text\/css\" media=\"all\"\/><link rel=\"stylesheet\" id=\"bootstrap-css-css\" href=\"https:\/\/coingape.com\/wp-content\/themes\/coingapev3\/css\/bootstrap.min.css?ver=6.3.2\" type=\"text\/css\" media=\"all\"\/><link rel=\"stylesheet\" id=\"Carousel-css2-css\" href=\"https:\/\/coingape.com\/wp-content\/cache\/background-css\/coingape.com\/wp-content\/themes\/coingapev3\/css\/owl.carousel.min.css?ver=6.3.2&#038;wpr_t=1704586297\" type=\"text\/css\" media=\"all\"\/><link data-minify=\"1\" rel=\"stylesheet\" id=\"Carousel-css-css\" href=\"https:\/\/coingape.com\/wp-content\/cache\/min\/1\/wp-content\/themes\/coingapev3\/css\/owl.theme.default.css?ver=1704455680\" type=\"text\/css\" media=\"all\"\/><link data-minify=\"1\" rel=\"stylesheet\" id=\"mh-magazine-css\" href=\"https:\/\/coingape.com\/wp-content\/cache\/background-css\/coingape.com\/wp-content\/cache\/min\/1\/wp-content\/themes\/coingapev3\/style.css?ver=1704455680&#038;wpr_t=1704586297\" type=\"text\/css\" media=\"all\"\/><link data-minify=\"1\" rel=\"stylesheet\" id=\"mh-font-awesome-css\" href=\"https:\/\/coingape.com\/wp-content\/cache\/min\/1\/wp-content\/themes\/mh-magazine\/includes\/font-awesome.min.css?ver=1704455680\" type=\"text\/css\" media=\"all\"\/><link data-minify=\"1\" rel=\"stylesheet\" id=\"tablepress-default-css\" href=\"https:\/\/coingape.com\/wp-content\/cache\/min\/1\/wp-content\/tablepress-combined.min.css?ver=1704455680\" type=\"text\/css\" media=\"all\"\/><link data-minify=\"1\" rel=\"stylesheet\" href=\"https:\/\/coingape.com\/wp-content\/cache\/background-css\/coingape.com\/wp-content\/cache\/min\/1\/wp-content\/themes\/coingapev3\/markets.css?ver=1704455685&#038;wpr_t=1704586297\"\/><\/noscript><\/p><\/div>\n<div class=\"MarketBottm\">\n<div class=\"Socilsm\">\n<p>\n                    Share this article on:<\/p>\n<div class=\"LinksSo\">\n                    <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.me\/share\/url?url=https:\/\/coingape.com\/markets\/will-ethereum-price-soar-to-2500-support-sets-for-rally\/&#038;text=Will Ethereum Price Soar to $2500? Multiple Support Sets Stage for Relief Rally\" class=\"TeleS\"><i class=\"fa fa-paper-plane-o\"\/><\/a><br \/>\n                    <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/api.whatsapp.com\/send?text=https:\/\/coingape.com\/markets\/will-ethereum-price-soar-to-2500-support-sets-for-rally\/\" data-action=\"share\/whatsapp\/share\" class=\"TeleSwp\"><i class=\"fa fa-whatsapp\"\/><\/a><br \/>\n                    <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/share?url=https:\/\/coingape.com\/markets\/will-ethereum-price-soar-to-2500-support-sets-for-rally\/\" class=\"tw_new_logo\"><br \/>\n<img loading=\"lazy\" decoding=\"async\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\" http:=\"\" class=\"mb-1\" alt=\"coingape\" width=\"18\" height=\"18\" data-lazy-src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/08\/14164721\/x-logo.png\"\/><noscript><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/08\/14164721\/x-logo.png\" class=\"mb-1\" alt=\"coingape\" width=\"18\" height=\"18\"\/><\/noscript><br \/>\n<\/a><br \/>\n                    <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer\/sharer.php?u=https:\/\/coingape.com\/markets\/will-ethereum-price-soar-to-2500-support-sets-for-rally\/\" class=\"TeleSFb\"><i class=\"fa fa-facebook\"\/><\/a>\n                    <\/div>\n<\/p><\/div>\n<\/div>\n<div class=\"TabDicA\">\n<div class=\"TBAcon \">\n<div class=\"authorFlip tabcS\" id=\"TabA172653\">\n<div class=\"authorBox\">\n<div class=\"author_Name\">\n<!--\n                                      \n\n<div class=\"getAuthoname\">\n                                          \n                                                                                 \n                                       <\/div>\n\n \n--><\/p>\n<p>Sahil is a dedicated full-time trader with over three years of experience in the financial markets. Armed with a strong grasp of technical analysis, he keeps a vigilant eye on the daily price movements of top assets and indices. Drawn by his fascination with financial instruments, Sahil enthusiastically embraced the emerging realm of cryptocurrency, where he continues to explore opportunities driven by his passion for trading                         <\/p>\n<\/p><\/div>\n<div class=\"author_Image\">\n                                             <img loading=\"lazy\" alt=\"\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\" http:=\"\" data-lazy-srcset=\"https:\/\/secure.gravatar.com\/avatar\/a533fdcf650a1d3d3b6a452bcef2d18a?s=400&#038;d=mm&#038;r=g 2x\" class=\"avatar avatar-200 photo\" height=\"200\" width=\"200\" decoding=\"async\" data-lazy-src=\"https:\/\/secure.gravatar.com\/avatar\/a533fdcf650a1d3d3b6a452bcef2d18a?s=200&#038;d=mm&#038;r=g\"\/><noscript><img loading=\"lazy\" alt=\"\" src=\"https:\/\/secure.gravatar.com\/avatar\/a533fdcf650a1d3d3b6a452bcef2d18a?s=200&#038;d=mm&#038;r=g\" srcset=\"https:\/\/secure.gravatar.com\/avatar\/a533fdcf650a1d3d3b6a452bcef2d18a?s=400&#038;d=mm&#038;r=g 2x\" class=\"avatar avatar-200 photo\" height=\"200\" width=\"200\" decoding=\"async\"\/><\/noscript>                                       <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"TabDesCm tabcS\" id=\"TabD172653\">\n<p>  The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.<\/p>\n<\/div><\/div>\n<\/p><\/div>\n<p>     <!--           <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/category\/price-analysis\/\" class=\"closeArticle2 close-btn\">Close Story<\/a>--><\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum Price Prediction: The $2140 demand pressure offers buyers a suitable springboard to release a new recovery push. Published 48 mins ago For over a month, the second largest cryptocurrency Ethereum(ETH) has been trading sideways resonating between two horizontal levels of $2140 and $2400. Despite a heavy sell-off on January 4th, the ETH price showcased [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":225023,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[188,183,185,186,187,184,189,150,182,190],"class_list":["post-225022","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology","tag-blockchain-tech","tag-blockchain-technology","tag-crypto-technology","tag-cryptocurrency-technology","tag-metaverse-technology","tag-nft-technology","tag-soul-bound-token","tag-tech","tag-technology","tag-token-technology"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/225022","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=225022"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/225022\/revisions"}],"predecessor-version":[{"id":225024,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/225022\/revisions\/225024"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/225023"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=225022"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=225022"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=225022"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}