{"id":446233,"date":"2020-10-13T05:48:32","date_gmt":"2020-10-13T05:48:32","guid":{"rendered":"https:\/\/wncen.com\/?p=446233"},"modified":"2024-06-11T14:06:59","modified_gmt":"2024-06-11T14:06:59","slug":"ethereum-is-gaining-momentum-400","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/ethereum-is-gaining-momentum-400\/","title":{"rendered":"TA: Ethereum is Gaining Momentum, But $400 Presents A Significant Challenge"},"content":{"rendered":"
Ethereum surged above the $370 resistance against the US Dollar. ETH price tested the $395 resistance and it is currently correcting lower towards the $380 support zone.<\/em><\/p>\n Yesterday, we discussed how Ethereum lacked momentum above $375, but dips likely to be limited<\/a>. ETH price remained well supported above the $365 level and it started a fresh increase.<\/p>\n The bulls gained strength above the $370, $375 and $380 resistance levels. Ether traded close to the $400 resistance and formed a new monthly high at $395 (similar to bitcoin<\/a>). It is currently correcting lower below $385, but it is still well above the 100 hourly simple moving average.<\/p>\n There was a break below the 23.6% Fib retracement level of the recent increase from the $265 swing low to $395 high. The first major support on the downside is near the $380 level.<\/p>\n <\/a><\/p>\n The 50% Fib retracement level of the recent increase from the $265 swing low to $395 high is also near the $380 level to provide support. More importantly, there is a key connecting bullish trend line forming with support near $372 on the hourly chart of ETH\/USD.<\/p>\n On the upside, the $388 level is a short-term resistance. The first major resistance is near the $395 level. The main hurdle for a larger breakout is near $400, above which the price may even aim a new yearly high.<\/p>\n Ethereum is likely to find a decent support near the $380 level. The next major support is near the $378 level, below which the price could test the trend line support.<\/p>\n The 100 hourly simple moving average is also near the trend line and $372. A downside break below the trend line support could push the price towards the main $365 support level.<\/p>\n Technical Indicators<\/p>\n Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is struggling to gain momentum in the bearish zone.<\/p>\n Hourly RSI – <\/strong>The RSI for ETH\/USD is currently holding the 50 level, with a positive angle.<\/p>\n Major Support Level \u2013 $372<\/p>\n Major Resistance Level \u2013 $395<\/p>\n","protected":false},"excerpt":{"rendered":" Ethereum surged above the $370 resistance against the US Dollar. ETH price tested the $395 resistance and it is currently correcting lower towards the $380 support zone. Ethereum gained bullish momentum above the $370, $375 and $380 resistance levels. The price tested the $395 resistance and it settled nicely above the 100 hourly simple moving average. There is a key connecting bullish trend line forming with support near $372 on the hourly chart of ETH\/USD (data feed via Kraken). The pair is correcting lower, but the bulls are likely to protect $380 or $375. Ethereum Price Turns Green Yesterday, we discussed how Ethereum lacked momentum above $375, but dips likely to be limited. ETH price remained well supported above the $365 level and it started a fresh increase. The bulls gained strength above the $370, $375 and $380 resistance levels. Ether traded close to the $400 resistance and formed a new monthly high at $395 (similar to bitcoin). It is currently correcting lower below $385, but it is still well above the 100 hourly simple moving average. There was a break below the 23.6% Fib retracement level of the recent increase from the $265 swing low to $395 high. The first major support on the downside is near the $380 level. Ethereum price settles above $380. Source: TradingView.com The 50% Fib retracement level of the recent increase from the $265 swing low to $395 high is also near the $380 level to provide support. More importantly, there is a key connecting bullish trend line forming with support near $372 on the hourly chart of ETH\/USD. On the upside, the $388 level is a short-term resistance. The first major resistance is near the $395 level. The main hurdle for a larger breakout is near $400, above which the price may even aim a new yearly high. Key Buy Zone in ETH? Ethereum is likely to find a decent support near the $380 level. The next major support is near the $378 level, below which the price could test the trend line support. The 100 hourly simple moving average is also near the trend line and $372. A downside break below the trend line support could push the price towards the main $365 support level. Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is struggling to gain momentum in the bearish zone. Hourly RSI – The RSI for ETH\/USD is currently holding the 50 level, with a positive angle. Major Support Level \u2013 $372 Major Resistance Level \u2013 $395<\/p>\n","protected":false},"author":67,"featured_media":446235,"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-446233","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 Turns Green<\/h2>\n
Ethereum price settles above $380. Source: TradingView.com<\/a><\/pre>\n
Key Buy Zone in ETH?<\/h2>\n