{"id":446899,"date":"2020-10-19T05:48:19","date_gmt":"2020-10-19T05:48:19","guid":{"rendered":"https:\/\/wncen.com\/?p=446899"},"modified":"2024-06-11T14:07:14","modified_gmt":"2024-06-11T14:07:14","slug":"ethereum-could-narrowly-avoid-drop","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/ethereum-could-narrowly-avoid-drop\/","title":{"rendered":"TA: Ethereum Could Narrowly Avoid a Major Drop if it Closes Above $380"},"content":{"rendered":"<p><em>Ethereum extended its decline below the key $365 support against the US Dollar. ETH price is correcting higher and it must surpass $380 for to avoid another bearish wave.<\/em><\/p>\n<ul>\n<li>Ethereum started a decent upward move after it tagged the $360 level.<\/li>\n<li>The price is now trading nicely above the $370 level and the 100 hourly simple moving average.<\/li>\n<li>There was a break above a major bearish trend line with resistance near $372 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n<li>The pair could is still facing a strong resistance near the $380 level.<\/li>\n<\/ul>\n<h2>Ethereum Price is Facing Hurdles<\/h2>\n<p>Ethereum extended its decline below the $370 level. ETH price even broke the <a href=\"https:\/\/wncen.com\/analysis\/eth\/ethereum-100-sma-can-trigger-rally\/\" target=\"_blank\" rel=\"noopener \">$365 support level<\/a> and tested the $360 level. It found support near $360 and recently started a fresh increase.<\/p>\n<p>There was a break above the $365 and $368 resistance levels. More importantly, there was a break above a major bearish trend line with resistance near $372 on the hourly chart of ETH\/USD. Ether price is now trading nicely above the $370 level and the <a href=\"https:\/\/wncen.com\/analysis\/eth\/ethereum-at-risk-of-a-sharp-decline-365\/\" target=\"_blank\" rel=\"noopener \">100 hourly simple moving average<\/a>.<\/p>\n<p>It is still facing a strong resistance near the $380 level. A high is formed near $380 and the price is currently correcting lower. There was a break below the $375 level, plus the 23.6% Fib retracement level of the upward move from the $360 swing low to $380 high.<\/p>\n<p><a href=\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/10\/Ethereum-15.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" width=\"1828\" height=\"868\" class=\"alignnone size-full wp-image-446900\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/10\/Ethereum-15.png?resize=1828%2C868\" alt=\"Ethereum\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/10\/Ethereum-15.png?w=1828 1828w, https:\/\/wncen.com\/wp-content\/uploads\/2020\/10\/Ethereum-15.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2020\/10\/Ethereum-15.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2020\/10\/Ethereum-15.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2020\/10\/Ethereum-15.png?w=1536 1536w, https:\/\/wncen.com\/wp-content\/uploads\/2020\/10\/Ethereum-15.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2020\/10\/Ethereum-15.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>Ether is now testing the $372 level and the 100 hourly simple moving average. A crucial support is forming near the $370 level and a connecting bullish trend line. It is close to the 50% Fib retracement level of the upward move from the $360 swing low to $380 high.<\/p>\n<p>On the upside, the bulls are facing a strong resistance near $380. A clear break above the $380 resistance is needed to start a steady increase in the coming sessions.<\/p>\n<h2>Fresh Decline in ETH?<\/h2>\n<p>If Ethereum fails to clear the $380 resistance levels, it might continue to move down. An immediate support is near the $372 and the 100 hourly SMA.<\/p>\n<p>The main support is near the $370 level. A clear break below the $370 support level could spark a sharp decline. The next major support is near $360, below which it could test $350 in the near term.<\/p>\n<p>Technical Indicators<\/p>\n<p>Hourly MACD<strong> \u2013 <\/strong>The MACD for ETH\/USD is now gaining pace in the bearish zone.<\/p>\n<p>Hourly RSI<strong> &#8211; <\/strong>The RSI for ETH\/USD is now just below the 50 level.<\/p>\n<p>Major Support Level \u2013 $370<\/p>\n<p>Major Resistance Level \u2013 $380<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum extended its decline below the key $365 support against the US Dollar. ETH price is correcting higher and it must surpass $380 for to avoid another bearish wave. Ethereum started a decent upward move after it tagged the $360 level. The price is now trading nicely above the $370 level and the 100 hourly simple moving average. There was a break above a major bearish trend line with resistance near $372 on the hourly chart of ETH\/USD (data feed via Kraken). The pair could is still facing a strong resistance near the $380 level. Ethereum Price is Facing Hurdles Ethereum extended its decline below the $370 level. ETH price even broke the $365 support level and tested the $360 level. It found support near $360 and recently started a fresh increase. There was a break above the $365 and $368 resistance levels. More importantly, there was a break above a major bearish trend line with resistance near $372 on the hourly chart of ETH\/USD. Ether price is now trading nicely above the $370 level and the 100 hourly simple moving average. It is still facing a strong resistance near the $380 level. A high is formed near $380 and the price is currently correcting lower. There was a break below the $375 level, plus the 23.6% Fib retracement level of the upward move from the $360 swing low to $380 high. Source: ETHUSD on TradingView.com Ether is now testing the $372 level and the 100 hourly simple moving average. A crucial support is forming near the $370 level and a connecting bullish trend line. It is close to the 50% Fib retracement level of the upward move from the $360 swing low to $380 high. On the upside, the bulls are facing a strong resistance near $380. A clear break above the $380 resistance is needed to start a steady increase in the coming sessions. Fresh Decline in ETH? If Ethereum fails to clear the $380 resistance levels, it might continue to move down. An immediate support is near the $372 and the 100 hourly SMA. The main support is near the $370 level. A clear break below the $370 support level could spark a sharp decline. The next major support is near $360, below which it could test $350 in the near term. Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is now gaining pace in the bearish zone. Hourly RSI &#8211; The RSI for ETH\/USD is now just below the 50 level. Major Support Level \u2013 $370 Major Resistance Level \u2013 $380<\/p>\n","protected":false},"author":67,"featured_media":446901,"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-446899","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 Could Narrowly Avoid a Major Drop if it Closes Above $380<\/title>\n<meta name=\"description\" content=\"Ethereum extended its decline below the key $365 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 Could Narrowly Avoid a Major Drop if it Closes Above $380","url":"http:\/\/wncen.com\/news\/ethereum\/ethereum-could-narrowly-avoid-drop\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/ethereum\/ethereum-could-narrowly-avoid-drop\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/10\/shutterstock_214477618.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/10\/shutterstock_214477618.jpg?fit=1000%2C664"},"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":"2020-10-19T05:48:19Z","datePublished":"2020-10-19T05:48:19Z","dateModified":"2024-06-11T14:07:14Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"TA: Ethereum Could Narrowly Avoid a Major Drop if it Closes Above $380\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/ethereum\\\/ethereum-could-narrowly-avoid-drop\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/ethereum\\\/ethereum-could-narrowly-avoid-drop\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/10\\\/shutterstock_214477618.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/10\\\/shutterstock_214477618.jpg?fit=1000%2C664\"},\"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\":\"2020-10-19T05:48:19Z\",\"datePublished\":\"2020-10-19T05:48:19Z\",\"dateModified\":\"2024-06-11T14:07:14Z\"}<\/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_214477618.jpg?fit=1000%2C664","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/446899","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=446899"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/446899\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/446901"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=446899"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=446899"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=446899"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}