{"id":440068,"date":"2020-09-30T05:48:53","date_gmt":"2020-09-30T05:48:53","guid":{"rendered":"https:\/\/wncen.com\/?p=440068"},"modified":"2024-06-11T14:17:00","modified_gmt":"2024-06-11T14:17:00","slug":"ethereum-bears-hold-strong-at-360","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum-bears-hold-strong-at-360\/","title":{"rendered":"Ethereum Bears Hold Strong At $360: Indicators Show Risk of Downside Break"},"content":{"rendered":"
Ethereum is struggling to clear the $360 and $365 resistance levels against the US Dollar. ETH price is showing bearish signs and it could dive below $350 and $345.<\/em><\/p>\n Ethereum remained stable above the $350 support level, but it is still facing a heavy resistance<\/a> near the $360 and $365 levels. ETH started an upward move from the $350 low and climbed above the 100 hourly simple moving average.<\/p>\n There was a break above the 23.6% Fib retracement level of the downward move from the $369 high to $350 low. However, the $360 resistance and the broken bullish trend line seems to be acting as a strong resistance for the bulls.<\/p>\n The 50% Fib retracement level of the downward move from the $369 high to $350 low is also acting as a resistance. Ether price is currently declining and trading near the $355 support level<\/a>.<\/p>\n <\/a><\/p>\n It seems like there is a new connecting bullish trend line forming with support near $352 on the hourly chart of ETH\/USD. If ether continues to move down and breaks the trend line support at $352, there is a risk of a bearish break.<\/p>\n The next major support is near the $350 and $348 levels, below which the bears are likely to aim a larger decline towards the $335 support level in the near term.<\/p>\n If Ethereum manages to stay above the $352 and $350 support levels, there are chances of an upside break. An initial resistance is near the $360 level.<\/p>\n The first key resistance could be near the $362 level, above which the bulls might aim a clear break above the $365 resistance level. The next major resistance is near the $375 zone.<\/p>\n Technical Indicators<\/p>\n Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is slowly moving back into the bearish zone.<\/p>\n Hourly RSI – <\/strong>The RSI for ETH\/USD is currently declining and it is well below the 50 level.<\/p>\n Major Support Level \u2013 $350<\/p>\n Major Resistance Level \u2013 $360<\/p>\n","protected":false},"excerpt":{"rendered":" Ethereum is struggling to clear the $360 and $365 resistance levels against the US Dollar. ETH price is showing bearish signs and it could dive below $350 and $345. Ethereum is still facing a heavy resistance near the $360 and $365 levels. The price is currently stuck near the $355 support and the 100 hourly simple moving average. There is a new connecting bullish trend line forming with support near $352 on the hourly chart of ETH\/USD (data feed via Kraken). The pair is likely to continue lower if it breaks the $352 and $350 support levels. Ethereum Price is Facing Many Hurdles Ethereum remained stable above the $350 support level, but it is still facing a heavy resistance near the $360 and $365 levels. ETH started an upward move from the $350 low and climbed above the 100 hourly simple moving average. There was a break above the 23.6% Fib retracement level of the downward move from the $369 high to $350 low. However, the $360 resistance and the broken bullish trend line seems to be acting as a strong resistance for the bulls. The 50% Fib retracement level of the downward move from the $369 high to $350 low is also acting as a resistance. Ether price is currently declining and trading near the $355 support level. Ethereum price trades below $360. Source: TradingView.com It seems like there is a new connecting bullish trend line forming with support near $352 on the hourly chart of ETH\/USD. If ether continues to move down and breaks the trend line support at $352, there is a risk of a bearish break. The next major support is near the $350 and $348 levels, below which the bears are likely to aim a larger decline towards the $335 support level in the near term. Chances of Upside Break in ETH? If Ethereum manages to stay above the $352 and $350 support levels, there are chances of an upside break. An initial resistance is near the $360 level. The first key resistance could be near the $362 level, above which the bulls might aim a clear break above the $365 resistance level. The next major resistance is near the $375 zone. Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is slowly moving back into the bearish zone. Hourly RSI – The RSI for ETH\/USD is currently declining and it is well below the 50 level. Major Support Level \u2013 $350 Major Resistance Level \u2013 $360<\/p>\n","protected":false},"author":67,"featured_media":440070,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3,13625,4],"tags":[1946,8686,78803],"class_list":["post-440068","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-ethereum","category-analysis","tag-ethereum","tag-ethusd","tag-ethusdt"],"acf":[],"yoast_head":"\n\n
Ethereum Price is Facing Many Hurdles<\/h2>\n
Ethereum price trades below $360. Source: TradingView.com<\/a><\/pre>\n
Chances of Upside Break in ETH?<\/h2>\n