{"id":436678,"date":"2020-08-30T06:28:20","date_gmt":"2020-08-30T06:28:20","guid":{"rendered":"https:\/\/wncen.com\/?p=436678"},"modified":"2024-06-11T14:15:44","modified_gmt":"2024-06-11T14:15:44","slug":"ethereum-just-saw-a-key-technical-breakout","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum-just-saw-a-key-technical-breakout\/","title":{"rendered":"Ethereum Just Saw A Key Technical Breakout: Big Reaction From Bulls Imminent"},"content":{"rendered":"
Ethereum is up over 2% and it broke the main $400 resistance against the US Dollar. ETH price is likely to accelerate higher once it clears the $408 resistance zone.<\/em><\/p>\n
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ETH price is back in a positive zone above the $400 and $402 resistance levels against the US Dollar.<\/li>\n
There is a strong support forming near $395 and the 100 simple moving average (4-hours).<\/li>\n
There was a break above a crucial bearish trend line with resistance near $395 on the 4-hours chart of ETH\/USD (data feed via Kraken).<\/li>\n
The pair is likely to continue higher once it clears the $408 resistance level in the near term.<\/li>\n<\/ul>\n
Ethereum Price Turns Green<\/h2>\n
After a strong downside correction, Ethereum found support near the $370 level against the US Dollar. ETH price made two attempts to decline below the $370 support, but the bears failed to gain momentum.<\/p>\n