{"id":2945,"date":"2024-05-17T13:29:00","date_gmt":"2024-05-17T13:29:00","guid":{"rendered":"https:\/\/alchemymarkets.com\/?post_type=market_insights&#038;p=2945"},"modified":"2025-05-15T14:14:32","modified_gmt":"2025-05-15T14:14:32","slug":"ethereum-price-searches-for-support","status":"publish","type":"market_insights","link":"https:\/\/alchemymarkets.com\/it\/education\/market-insights\/chart-of-the-day\/ethereum-price-searches-for-support\/","title":{"rendered":"Ethereum Price Searches For Support As Hammer Forms"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">Executive Summary:<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Ethereum is consolidating above $2800<\/li>\n\n\n\n<li>A weekly hammer candlestick pattern formed at $2817 low<\/li>\n\n\n\n<li>The bullish key level is the January 2024 high of $2716<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">Ethereum Broken Resistance Acting Like New Support<\/h2>\n\n\n\n<p>Ethereum price is trying to hold above support that has formed between $2716 and $2826.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"1381\" height=\"883\" src=\"https:\/\/alchemymarkets.com\/wp-content\/uploads\/2024\/05\/image-31.png\" alt=\"\" class=\"wp-image-2947\" srcset=\"https:\/\/alchemymarkets.com\/wp-content\/uploads\/2024\/05\/image-31.png 1381w, https:\/\/alchemymarkets.com\/wp-content\/uploads\/2024\/05\/image-31-300x192.png 300w, https:\/\/alchemymarkets.com\/wp-content\/uploads\/2024\/05\/image-31-1024x655.png 1024w, https:\/\/alchemymarkets.com\/wp-content\/uploads\/2024\/05\/image-31-768x491.png 768w\" sizes=\"auto, (max-width: 1381px) 100vw, 1381px\" \/><\/figure>\n\n\n\n<p>Since early April, ether has been supported near $2800. Each time the price tests the low, a short term rally has developed.<\/p>\n\n\n\n<p>A big reason why this low has been successfully defended is due to a previous high from January 2024.<\/p>\n\n\n\n<p>The January 12 high was at $2716 creating a level of resistance. This high eventually broke in February.&nbsp;<\/p>\n\n\n\n<p>We know from our technical analysis studies that former resistance, when broken, becomes support in the future. This broken high is now acting like support for the second largest crypto.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Weekly Hammer Pattern Suggest Bullish Undertones<\/h2>\n\n\n\n<p>In early May, a weekly <a href=\"https:\/\/alchemymarkets.com\/education\/candlesticks\/hammer-pattern\/\">hammer candlestick pattern<\/a> developed. The hammer is a bullish pattern and suggests the technical support levels are being respected.<\/p>\n\n\n\n<p>Ethereum is now trying to rally off the trend line created by the recent lows. So long as prices hold above $2716, then consider ether in a bull trend.<\/p>\n\n\n\n<p>If ether can\u2019t hold above the $2716 key level, then a more significant top may have formed.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum is now trying to rally off the trend line created by the recent lows. So long as prices hold above $2716, then consider ether in a bull trend.<\/p>\n","protected":false},"author":160,"featured_media":2946,"parent":0,"comment_status":"open","ping_status":"closed","template":"","market_insights_categories":[18],"class_list":["post-2945","market_insights","type-market_insights","status-publish","has-post-thumbnail","hentry","market_insights_categories-chart-of-the-day"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Ethereum Price Searches For Support As Hammer Forms - Alchemy Markets<\/title>\n<meta name=\"description\" content=\"Ethereum consolidates above $2800 with bullish signals. 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Weekly hammer pattern suggests potential rally if $2716 holds.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/alchemymarkets.com\/it\/education\/market-insights\/chart-of-the-day\/ethereum-price-searches-for-support\/","og_locale":"it_IT","og_type":"article","og_title":"Ethereum Price Searches For Support As Hammer Forms - Alchemy Markets","og_description":"Ethereum consolidates above $2800 with bullish signals. Weekly hammer pattern suggests potential rally if $2716 holds.","og_url":"https:\/\/alchemymarkets.com\/education\/market-insights\/chart-of-the-day\/ethereum-price-searches-for-support\/","og_site_name":"Alchemy Markets","article_modified_time":"2025-05-15T14:14:32+00:00","og_image":[{"width":1792,"height":1024,"url":"https:\/\/alchemymarkets.com\/wp-content\/uploads\/2024\/05\/Ethereum-feature-image.webp","type":"image\/webp"}],"twitter_card":"summary_large_image","twitter_misc":{"Tempo di lettura stimato":"2 minuti"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/alchemymarkets.com\/education\/market-insights\/chart-of-the-day\/ethereum-price-searches-for-support\/","url":"https:\/\/alchemymarkets.com\/education\/market-insights\/chart-of-the-day\/ethereum-price-searches-for-support\/","name":"Ethereum Price Searches For Support As Hammer Forms - Alchemy Markets","isPartOf":{"@id":"https:\/\/alchemymarkets.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/alchemymarkets.com\/education\/market-insights\/chart-of-the-day\/ethereum-price-searches-for-support\/#primaryimage"},"image":{"@id":"https:\/\/alchemymarkets.com\/education\/market-insights\/chart-of-the-day\/ethereum-price-searches-for-support\/#primaryimage"},"thumbnailUrl":"https:\/\/alchemymarkets.com\/wp-content\/uploads\/2024\/05\/Ethereum-feature-image.webp","datePublished":"2024-05-17T13:29:00+00:00","dateModified":"2025-05-15T14:14:32+00:00","description":"Ethereum consolidates above $2800 with bullish signals. 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