{"id":446614,"date":"2020-10-16T05:48:43","date_gmt":"2020-10-16T05:48:43","guid":{"rendered":"https:\/\/wncen.com\/?p=446614"},"modified":"2024-06-11T14:07:07","modified_gmt":"2024-06-11T14:07:07","slug":"ethereum-at-risk-of-a-sharp-decline-365","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/ethereum-at-risk-of-a-sharp-decline-365\/","title":{"rendered":"TA: Ethereum At Risk of A Sharp Decline If It Breaks $365 Support"},"content":{"rendered":"
Ethereum faced a strong rejection above $380 against the US Dollar. ETH price is now at a risk of a sharp decline if it breaks the key $365 support in the near term.<\/em><\/p>\n Ethereum started a steady decline from well above the $385 level<\/a>. ETH price faced a strong resistance near the $380 and $382 levels, resulting in a drop below the $375 support.<\/p>\n Ether price even broke the $370 support and settled well below the 100 hourly simple moving average. It retested the key $365 support<\/a> level and it is currently consolidating losses. An initial resistance is near the $372 level.<\/p>\n The first major resistance is near the $374 level or the 50% Fib retracement level of the recent decline from the $382 high to $365 low. More importantly, there is a key bearish trend line forming with resistance near $378 on the hourly chart of ETH\/USD.<\/p>\n <\/a><\/p>\n The trend line is close to the 100 hourly simple moving average and the 76.4% Fib retracement level of the recent decline from the $382 high to $365 low. If there is no recovery above $374 and $378, there is a risk of a downside break below the $365 support.<\/p>\n A proper close below the $365 support may perhaps open the doors for a larger decline. The next major support is near the $355 level.<\/p>\n If Ethereum stays above the $365 support, it could start a fresh increase. The first key resistance is near the $374 level, but the main hurdle is now forming near $378.<\/p>\n A clear break above the trend line resistance, $378, and the 100 hourly simple moving average could open the doors for a steady rise towards the $388 and $392 levels in the coming sessions.<\/p>\n Technical Indicators<\/p>\n Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is now gaining pace in the bearish zone.<\/p>\n Hourly RSI – <\/strong>The RSI for ETH\/USD is now well below the 50 level.<\/p>\n Major Support Level \u2013 $365<\/p>\n Major Resistance Level \u2013 $374<\/p>\n","protected":false},"excerpt":{"rendered":" Ethereum faced a strong rejection above $380 against the US Dollar. ETH price is now at a risk of a sharp decline if it breaks the key $365 support in the near term. Ethereum struggled to gain momentum above the $380 and $382 levels. The price declined sharply below the 100 hourly simple moving average, and retested $365. There is a key bearish trend line forming with resistance near $378 on the hourly chart of ETH\/USD (data feed via Kraken). The pair could decline heavily if there is a clear break below the $365 support level. Ethereum Price Showing Bearish Signs Ethereum started a steady decline from well above the $385 level. ETH price faced a strong resistance near the $380 and $382 levels, resulting in a drop below the $375 support. Ether price even broke the $370 support and settled well below the 100 hourly simple moving average. It retested the key $365 support level and it is currently consolidating losses. An initial resistance is near the $372 level. The first major resistance is near the $374 level or the 50% Fib retracement level of the recent decline from the $382 high to $365 low. More importantly, there is a key bearish trend line forming with resistance near $378 on the hourly chart of ETH\/USD. Source: ETHUSD on TradingView.com The trend line is close to the 100 hourly simple moving average and the 76.4% Fib retracement level of the recent decline from the $382 high to $365 low. If there is no recovery above $374 and $378, there is a risk of a downside break below the $365 support. A proper close below the $365 support may perhaps open the doors for a larger decline. The next major support is near the $355 level. Fresh Increase in ETH? If Ethereum stays above the $365 support, it could start a fresh increase. The first key resistance is near the $374 level, but the main hurdle is now forming near $378. A clear break above the trend line resistance, $378, and the 100 hourly simple moving average could open the doors for a steady rise towards the $388 and $392 levels in the coming sessions. Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is now gaining pace in the bearish zone. Hourly RSI – The RSI for ETH\/USD is now well below the 50 level. Major Support Level \u2013 $365 Major Resistance Level \u2013 $374<\/p>\n","protected":false},"author":67,"featured_media":446616,"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-446614","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 Showing Bearish Signs<\/h2>\n
Source: ETHUSD on TradingView.com<\/a><\/pre>\n
Fresh Increase in ETH?<\/h2>\n