{"id":447993,"date":"2020-10-27T05:48:09","date_gmt":"2020-10-27T05:48:09","guid":{"rendered":"https:\/\/wncen.com\/?p=447993"},"modified":"2024-06-11T12:33:52","modified_gmt":"2024-06-11T12:33:52","slug":"ethereum-recovery-could-fail-near-400","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/ethereum-recovery-could-fail-near-400\/","title":{"rendered":"TA: Ethereum Recovery Could Fail Near Support Turned Resistance At $400"},"content":{"rendered":"<p><em>Ethereum declined 5% and it broke the main $400 support against the US Dollar. ETH price is recovering from the $385 support, but it could face hurdles near $400.<\/em><\/p>\n<ul>\n<li>Ethereum is down 5% and it broke the $400 and $395 support levels.<\/li>\n<li>The price is currently recovering from $385, but it is well below the 100 hourly simple moving average.<\/li>\n<li>There is a key bearish trend line forming with resistance near $400 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n<li>The pair could resume its decline unless it clears the $400 resistance area in the near term.<\/li>\n<\/ul>\n<h2>Ethereum Price is Down 5%<\/h2>\n<p>Yesterday, we discussed the chances of a <a href=\"https:\/\/wncen.com\/analysis\/eth\/ethereum-stuck-below-410\/\" target=\"_blank\" rel=\"noopener \">sharp decline in Ethereum<\/a> below the $400 support. ETH price did fail to clear the $410 resistance and it declined sharply (unlike <a href=\"https:\/\/wncen.com\/analysis\/btc\/ta-bitcoin-rally-vulnerable-if-it-continues-to-struggle-below-13-2k\/\" target=\"_blank\" rel=\"noopener \">bitcoin<\/a>) below the $400 and $395 support levels.<\/p>\n<p>The decline gained pace below $395 and the price settled below the 100 hourly simple moving average. It tested the $385 support zone and a low is formed near $383. Ether price is currently recovering and trading above the $390 level.<\/p>\n<p>There was a break above the 23.6% Fib retracement level of the recent drop from the $418 high to $383 low. On the upside, the price is facing a lot of hurdles near the $395 and $400 levels.<\/p>\n<p><a href=\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/10\/Ethereum-23.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" width=\"1828\" height=\"868\" class=\"alignnone size-full wp-image-447995\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/10\/Ethereum-23.png?resize=1828%2C868\" alt=\"Ethereum Price\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/10\/Ethereum-23.png?w=1828 1828w, https:\/\/wncen.com\/wp-content\/uploads\/2020\/10\/Ethereum-23.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2020\/10\/Ethereum-23.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2020\/10\/Ethereum-23.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2020\/10\/Ethereum-23.png?w=130 130w, https:\/\/wncen.com\/wp-content\/uploads\/2020\/10\/Ethereum-23.png?w=104 104w, https:\/\/wncen.com\/wp-content\/uploads\/2020\/10\/Ethereum-23.png?w=83 83w, https:\/\/wncen.com\/wp-content\/uploads\/2020\/10\/Ethereum-23.png?w=1536 1536w, https:\/\/wncen.com\/wp-content\/uploads\/2020\/10\/Ethereum-23.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2020\/10\/Ethereum-23.png?w=1140 1140w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\"><\/a><\/p>\n<pre>Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/ETHUSD\/\" target=\"_blank\" rel=\"noopener nofollow\">ETHUSD on TradingView.com<\/a><\/pre>\n<p>There is also a key bearish trend line forming with resistance near $400 on the hourly chart of ETH\/USD. The trend line is close to the 100 hourly simple moving average, and the 50% Fib retracement level of the recent drop from the $418 high to $383 low.<\/p>\n<p>To move back into a positive zone, ether price must break the $400 resistance level and settle nicely above the 100 hourly simple moving average. The next stop on the upside could be near the $410 resistance.<\/p>\n<h2>More Losses in ETH?<\/h2>\n<p>If Ethereum fails to clear the $395 and $400 resistance levels, there is a risk of more losses. An initial support on the downside is near the $388 level.<\/p>\n<p>The main support seems to be forming near the $385 level. A clear break below the $385 support zone could start an extended decline in ether towards the $368 support level in the coming sessions.<\/p>\n<p>Technical Indicators<\/p>\n<p>Hourly MACD<strong> \u2013 <\/strong>The MACD for ETH\/USD is struggling to gain pace in the bullish zone.<\/p>\n<p>Hourly RSI<strong> &#8211; <\/strong>The RSI for ETH\/USD is recovering and close to the 40 level.<\/p>\n<p>Major Support Level \u2013 $385<\/p>\n<p>Major Resistance Level \u2013 $400<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum declined 5% and it broke the main $400 support against the US Dollar. ETH price is recovering from the $385 support, but it could face hurdles near $400. Ethereum is down 5% and it broke the $400 and $395 support levels. The price is currently recovering from $385, but it is well below the 100 hourly simple moving average. There is a key bearish trend line forming with resistance near $400 on the hourly chart of ETH\/USD (data feed via Kraken). The pair could resume its decline unless it clears the $400 resistance area in the near term. Ethereum Price is Down 5% Yesterday, we discussed the chances of a sharp decline in Ethereum below the $400 support. ETH price did fail to clear the $410 resistance and it declined sharply (unlike bitcoin) below the $400 and $395 support levels. The decline gained pace below $395 and the price settled below the 100 hourly simple moving average. It tested the $385 support zone and a low is formed near $383. Ether price is currently recovering and trading above the $390 level. There was a break above the 23.6% Fib retracement level of the recent drop from the $418 high to $383 low. On the upside, the price is facing a lot of hurdles near the $395 and $400 levels. Source: ETHUSD on TradingView.com There is also a key bearish trend line forming with resistance near $400 on the hourly chart of ETH\/USD. The trend line is close to the 100 hourly simple moving average, and the 50% Fib retracement level of the recent drop from the $418 high to $383 low. To move back into a positive zone, ether price must break the $400 resistance level and settle nicely above the 100 hourly simple moving average. The next stop on the upside could be near the $410 resistance. More Losses in ETH? If Ethereum fails to clear the $395 and $400 resistance levels, there is a risk of more losses. An initial support on the downside is near the $388 level. The main support seems to be forming near the $385 level. A clear break below the $385 support zone could start an extended decline in ether towards the $368 support level in the coming sessions. Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is struggling to gain pace in the bullish zone. Hourly RSI &#8211; The RSI for ETH\/USD is recovering and close to the 40 level. Major Support Level \u2013 $385 Major Resistance Level \u2013 $400<\/p>\n","protected":false},"author":67,"featured_media":447996,"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-447993","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-ethereum","tag-ethusd","tag-ethusdt"],"acf":[],"yoast_head":"\n<title>TA: Ethereum Recovery Could Fail Near Support Turned Resistance At $400<\/title>\n<meta name=\"description\" content=\"Ethereum declined 5% and it broke the main $400 support. 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Renowned for his unparalleled proficiency in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors worldwide, guiding them through the intricate landscapes of modern finance with his keen insights and astute chart analysis. From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked on a journey that would lead him to become one of the foremost authorities in the fields of Forex and crypto trading. With a meticulous eye for detail and an unwavering commitment to excellence, Aayush honed his craft over the years, mastering the art of technical analysis and chart interpretation. As a software engineer, Aayush harnesses the power of technology to optimize trading strategies and develop innovative solutions for navigating the volatile waters of financial markets. His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape. In addition to his roles in finance and technology, Aayush serves as the director of a prestigious IT company, where he spearheads initiatives aimed at driving digital innovation and transformation. Under his visionary leadership, the company has flourished, cementing its position as a leader in the tech industry and paving the way for groundbreaking advancements in software development and IT solutions. Despite his demanding professional commitments, Aayush is a firm believer in the importance of work-life balance. An avid traveler and adventurer, he finds solace in exploring new destinations, immersing himself in different cultures, and forging lasting memories along the way. Whether he's trekking through the Himalayas, diving in the azure waters of the Maldives, or experiencing the vibrant energy of bustling metropolises, Aayush embraces every opportunity to broaden his horizons and create unforgettable experiences. Aayush's journey to success is marked by a relentless pursuit of excellence and a steadfast commitment to continuous learning and growth. His academic achievements are a testament to his dedication and passion for excellence, having completed his software engineering with honors and excelling in every department. At his core, Aayush is driven by a profound passion for analyzing markets and uncovering profitable opportunities amidst volatility. Whether he's poring over price charts, identifying key support and resistance levels, or providing insightful analysis to his clients and followers, Aayush's unwavering dedication to his craft sets him apart as a true industry leader and a beacon of inspiration to aspiring traders around the globe. In a world where uncertainty reigns supreme, Aayush Jindal stands as a guiding light, illuminating the path to financial success with his unparalleled expertise, unwavering integrity, and boundless enthusiasm for the markets.","sameAs":["https:\/\/www.linkedin.com\/in\/aayush-jindal-358b6932\/","https:\/\/x.com\/twitter.com\/AayushJs"],"url":"https:\/\/wncen.com\/author\/aayushjindal\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"TA: Ethereum Recovery Could Fail Near Support Turned Resistance At $400","url":"http:\/\/wncen.com\/news\/ethereum\/ethereum-recovery-could-fail-near-400\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/ethereum\/ethereum-recovery-could-fail-near-400\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/10\/shutterstock_649342378.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/10\/shutterstock_649342378.jpg?fit=1000%2C667"},"articleSection":"Ethereum","author":[{"@type":"Person","name":"Aayush Jindal"}],"creator":["Aayush Jindal"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["ethereum","ethusd","ethusdt"],"dateCreated":"2020-10-27T05:48:09Z","datePublished":"2020-10-27T05:48:09Z","dateModified":"2024-06-11T12:33:52Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"TA: Ethereum Recovery Could Fail Near Support Turned Resistance At $400\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/ethereum\\\/ethereum-recovery-could-fail-near-400\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/ethereum\\\/ethereum-recovery-could-fail-near-400\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/10\\\/shutterstock_649342378.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/10\\\/shutterstock_649342378.jpg?fit=1000%2C667\"},\"articleSection\":\"Ethereum\",\"author\":[{\"@type\":\"Person\",\"name\":\"Aayush Jindal\"}],\"creator\":[\"Aayush Jindal\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"ethereum\",\"ethusd\",\"ethusdt\"],\"dateCreated\":\"2020-10-27T05:48:09Z\",\"datePublished\":\"2020-10-27T05:48:09Z\",\"dateModified\":\"2024-06-11T12:33:52Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/10\/shutterstock_649342378.jpg?fit=1000%2C667","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/447993","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/67"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=447993"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/447993\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/447996"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=447993"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=447993"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=447993"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}