{"id":440819,"date":"2020-10-02T05:48:16","date_gmt":"2020-10-02T05:48:16","guid":{"rendered":"https:\/\/wncen.com\/?p=440318"},"modified":"2024-06-11T16:31:28","modified_gmt":"2024-06-11T16:31:28","slug":"ethereum-100-sma-could-trigger-another-slide","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum-100-sma-could-trigger-another-slide\/","title":{"rendered":"Ethereum Correcting Losses, But 100 SMA Could Trigger Another Slide"},"content":{"rendered":"
Ethereum nosedived from the $370 resistance zone against the US Dollar. ETH price is currently correcting losses from $345, but it is likely to face sellers near $355.<\/em><\/p>\n Ethereum remained steady above the $355 resistance level<\/a> and it even climbed above $365. However, ETH bulls failed to gain strength above the $370 level.<\/p>\n A high was formed near $372 and there was a sharp decline in ether price. There was a break below the $365 and $360 levels. The bears gained control and there was a break below a crucial bullish trend line with support near $356 on the hourly chart of ETH\/USD.<\/p>\n The pair even spiked below the $350 support and settled below the 100 hourly simple moving average. A low is formed near the $345 level and ether is currently correcting higher. There was a break above the 23.6% Fib retracement level of the recent decline from the $372 swing high to $345 low.<\/p>\n <\/a><\/p>\n The price is currently struggling to surpass the key $355 level (support turned resistance). The next key resistance is near the $356 level and the 100 hourly simple moving average.<\/p>\n The main resistance seems to be forming near the $358 level. It is close to the 50% Fib retracement level of the recent decline from the $372 swing high to $345 low. A successful break above the $355 resistance and then a follow up move above the $358 level is needed for a fresh increase.<\/p>\n\n
Ethereum Price is Facing Many Hurdles<\/h2>\n
Ethereum price dives below $355. Source: TradingView.com<\/a><\/pre>\n
More Losses in ETH?<\/h2>\n