{"id":455666,"date":"2021-02-01T05:18:31","date_gmt":"2021-02-01T05:18:31","guid":{"rendered":"https:\/\/wncen.com\/?p=455666"},"modified":"2024-06-11T14:13:04","modified_gmt":"2024-06-11T14:13:04","slug":"ethereum-struggles-below-1350","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/ethereum-struggles-below-1350\/","title":{"rendered":"TA: Ethereum Struggles Below $1,350, Why 100 SMA Could Trigger Rally"},"content":{"rendered":"
Ethereum struggled to clear the $1,400 resistance and declined to $1,275 against the US Dollar. ETH price is struggling, but it could recover once there is a clear break above $1,350.<\/em><\/p>\n After a failed attempt near $1,400, Ethereum started a fresh bearish wave. ETH price topped near the $1,375 level before it declined almost $100. There was a break below the $1,350 support level and the 100 hourly simple moving average.<\/p>\n However, the bulls were able to protect the $1,275 support. A low is formed near $1,274 and the price is currently correcting higher. It is testing the $1,320 resistance level, which is close to the 50% Fib retracement level of the recent decline from the $1,375 high to $1,274 low.<\/p>\n The first major resistance is near the $1,340 and $1,350 levels. There is also a key bearish trend line forming with resistance near $1,345 on the hourly chart of ETH\/USD. The trend line is close to the 61.8% Fib retracement level of the recent decline from the $1,375 high to $1,274 low.<\/p>\n <\/a><\/p>\n Moreover, the 100 hourly SMA is also positioned near $1,340 to act as a hurdle. A clear break above the $1,340 and $1,350 resistance levels may possibly open the doors for a larger increase in the coming sessions. In the stated case, there are high chances of a break above the $1,400 resistance<\/a> level.<\/p>\n If Ethereum fails to clear the $1,340 zone and the trend line resistance, it could start a fresh decline. An initial support on the downside is near the $1,300 level.<\/p>\n\n
Ethereum Price is Facing Hurdles<\/h2>\n
Source: ETHUSD on TradingView.com<\/a><\/pre>\n
Fresh Dip in ETH?<\/h2>\n