{"id":447642,"date":"2020-10-26T05:48:25","date_gmt":"2020-10-26T05:48:25","guid":{"rendered":"https:\/\/wncen.com\/?p=447642"},"modified":"2024-06-11T14:07:34","modified_gmt":"2024-06-11T14:07:34","slug":"ethereum-stuck-below-410","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/ethereum-stuck-below-410\/","title":{"rendered":"TA: Ethereum Stuck Below $410, Why It Could Correct Sharply Below $400"},"content":{"rendered":"
Ethereum is struggling to gain momentum above $410 and $420 against the US Dollar. ETH price might start a strong downside correction if it clears the $400 support.<\/em><\/p>\n Ethereum failed to set a new monthly high above $420 unlike bitcoin<\/a> against the US Dollar. ETH price seems to be facing a couple of major hurdles near the $410 and $412 resistance levels.<\/p>\n The last swing high was near $418 before the price declined below the $410 support. There was a break below a key contracting triangle with support near $412 on the hourly chart of ETH\/USD. However, ether price remained well bid above the $400 support and the 100 hourly simple moving average.<\/p>\n A low is formed near $403 and the price is currently consolidating in a range. There was a break above the $405 level, but the price is facing a strong resistance<\/a> near the $410 level. It is also close to the 50% Fib retracement level of the recent decline from the $418 high to $403 low.<\/p>\n <\/a><\/p>\n The next key resistance is near the $412 level or the 61.8% Fib retracement level of the recent decline from the $418 high to $403 low. If ether clears the $410 and $412 resistance levels, there are chances of a strong increase.<\/p>\n The next major resistance is near the $418 swing high and $420. A successful close above the $420 level might open the doors for a sharp increase in the coming sessions. The next stop on the upside could be near the $432 level, followed by $435.<\/p>\n If Ethereum fails to clear the $410 and $412 resistance levels, there is a risk of a fresh drop. The first major support is near the 100 hourly simple moving average and $405.<\/p>\n The main support seems to be forming near the $400 level. A continuous failure to gain traction above $410 might even result in a sharp decline below the $400 level (the last key breakout zone).<\/p>\n Technical Indicators<\/p>\n Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is slowly moving in the bullish zone.<\/p>\n Hourly RSI – <\/strong>The RSI for ETH\/USD is just below the 50 level.<\/p>\n Major Support Level \u2013 $400<\/p>\n Major Resistance Level \u2013 $412<\/p>\n","protected":false},"excerpt":{"rendered":" Ethereum is struggling to gain momentum above $410 and $420 against the US Dollar. ETH price might start a strong downside correction if it clears the $400 support. Ethereum is facing a couple of major hurdles near the $410 and $412 resistance levels. The price is currently holding the $400 support and the 100 hourly simple moving average. There was a break below a key contracting triangle with support near $412 on the hourly chart of ETH\/USD (data feed via Kraken). The pair could start a sharp downside correction below $400 if it stays below $412 for too long. Ethereum Price is Facing Hurdles Ethereum failed to set a new monthly high above $420 unlike bitcoin against the US Dollar. ETH price seems to be facing a couple of major hurdles near the $410 and $412 resistance levels. The last swing high was near $418 before the price declined below the $410 support. There was a break below a key contracting triangle with support near $412 on the hourly chart of ETH\/USD. However, ether price remained well bid above the $400 support and the 100 hourly simple moving average. A low is formed near $403 and the price is currently consolidating in a range. There was a break above the $405 level, but the price is facing a strong resistance near the $410 level. It is also close to the 50% Fib retracement level of the recent decline from the $418 high to $403 low. Source: ETHUSD on TradingView.com The next key resistance is near the $412 level or the 61.8% Fib retracement level of the recent decline from the $418 high to $403 low. If ether clears the $410 and $412 resistance levels, there are chances of a strong increase. The next major resistance is near the $418 swing high and $420. A successful close above the $420 level might open the doors for a sharp increase in the coming sessions. The next stop on the upside could be near the $432 level, followed by $435. Downside Break in ETH If Ethereum fails to clear the $410 and $412 resistance levels, there is a risk of a fresh drop. The first major support is near the 100 hourly simple moving average and $405. The main support seems to be forming near the $400 level. A continuous failure to gain traction above $410 might even result in a sharp decline below the $400 level (the last key breakout zone). Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is slowly moving in the bullish zone. Hourly RSI – The RSI for ETH\/USD is just below the 50 level. Major Support Level \u2013 $400 Major Resistance Level \u2013 $412<\/p>\n","protected":false},"author":67,"featured_media":447644,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[13625],"tags":[1946,8686,78803],"class_list":["post-447642","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-ethereum","tag-ethusd","tag-ethusdt"],"acf":[],"yoast_head":"\n\n
Ethereum Price is Facing Hurdles<\/h2>\n
Source: ETHUSD on TradingView.com<\/a><\/pre>\n
Downside Break in ETH<\/h2>\n