{"id":447082,"date":"2020-10-20T05:48:42","date_gmt":"2020-10-20T05:48:42","guid":{"rendered":"https:\/\/wncen.com\/?p=447082"},"modified":"2024-06-11T14:07:18","modified_gmt":"2024-06-11T14:07:18","slug":"ethereum-recovery-could-soon-385","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/ethereum-recovery-could-soon-385\/","title":{"rendered":"TA: Ethereum Recovery Could Soon Fade If ETH Fails To Clear $385"},"content":{"rendered":"<p><em>Ethereum is slowly rising and trading well above $375 against the US Dollar. ETH price must clear the $385 resistance to continue higher in the near term.<\/em><\/p>\n<ul>\n<li>Ethereum gained pace after it broke the $375 resistance level.<\/li>\n<li>The price tested the $385 resistance and it is now trading the 100 hourly simple moving average.<\/li>\n<li>There is a key bullish trend line forming with support near $375 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n<li>The pair could start a fresh decline below $375 if it fails to clear the $385 resistance.<\/li>\n<\/ul>\n<h2>Ethereum Price is Facing an Uphill Task<\/h2>\n<p>Ethereum started a decent upward move after it reclaimed the $370 level. ETH price broke the <a href=\"https:\/\/wncen.com\/analysis\/eth\/ethereum-could-narrowly-avoid-drop\/\" target=\"_blank\" rel=\"noopener \">$375 resistance<\/a> and it settled well above the 100 hourly simple moving average.<\/p>\n<p>The bulls gained strength, resulting in a push above the $380 level. However, ether price failed to clear the key $385 resistance. A high is formed near $385 and the price started a downside correction.<\/p>\n<p>There was a break below the $380 level, and the 50% Fib retracement level of the recent increase from the $373 swing low to $385 high. The price is now holding the $378 support level (a multi-touch zone). The next major support on the downside is near the $375 level.<\/p>\n<p><a href=\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/10\/Ethereum-16.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" width=\"1828\" height=\"868\" class=\"alignnone size-full wp-image-447083\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/10\/Ethereum-16.png?resize=1828%2C868\" alt=\"Ethereum Price\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/10\/Ethereum-16.png?w=1828 1828w, https:\/\/wncen.com\/wp-content\/uploads\/2020\/10\/Ethereum-16.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2020\/10\/Ethereum-16.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2020\/10\/Ethereum-16.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2020\/10\/Ethereum-16.png?w=1536 1536w, https:\/\/wncen.com\/wp-content\/uploads\/2020\/10\/Ethereum-16.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2020\/10\/Ethereum-16.png?w=1140 1140w\" sizes=\"(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 bullish trend line forming with support near $375 on the hourly chart of ETH\/USD. The trend line support is close to the 76.4% Fib retracement level of the recent increase from the $373 swing low to $385 high.<\/p>\n<p>On the upside, the bulls are facing a strong resistance near $385. A clear break above the $385 resistance could open the doors for a push towards the $400 resistance level in the coming sessions.<\/p>\n<h2>Downside Break in ETH?<\/h2>\n<p>If Ethereum fails to clear the $385 resistance levels, it might continue to move down. An immediate support is near the $378 zone.<\/p>\n<p>The main support is near the trend line and $375. A clear break below the $375 support level and the 100 hourly simple moving average might start a fresh decline. In the stated case, the price could revisit the <a href=\"https:\/\/wncen.com\/analysis\/eth\/ethereum-100-sma-can-trigger-rally\/\" target=\"_blank\" rel=\"noopener \">$365 support zone<\/a>.<\/p>\n<p>Technical Indicators<\/p>\n<p>Hourly MACD<strong> \u2013 <\/strong>The MACD for ETH\/USD is slowly moving in the bearish zone.<\/p>\n<p>Hourly RSI<strong> &#8211; <\/strong>The RSI for ETH\/USD is now just above the 50 level.<\/p>\n<p>Major Support Level \u2013 $375<\/p>\n<p>Major Resistance Level \u2013 $385<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum is slowly rising and trading well above $375 against the US Dollar. ETH price must clear the $385 resistance to continue higher in the near term. Ethereum gained pace after it broke the $375 resistance level. The price tested the $385 resistance and it is now trading the 100 hourly simple moving average. There is a key bullish trend line forming with support near $375 on the hourly chart of ETH\/USD (data feed via Kraken). The pair could start a fresh decline below $375 if it fails to clear the $385 resistance. Ethereum Price is Facing an Uphill Task Ethereum started a decent upward move after it reclaimed the $370 level. ETH price broke the $375 resistance and it settled well above the 100 hourly simple moving average. The bulls gained strength, resulting in a push above the $380 level. However, ether price failed to clear the key $385 resistance. A high is formed near $385 and the price started a downside correction. There was a break below the $380 level, and the 50% Fib retracement level of the recent increase from the $373 swing low to $385 high. The price is now holding the $378 support level (a multi-touch zone). The next major support on the downside is near the $375 level. Source: ETHUSD on TradingView.com There is also a key bullish trend line forming with support near $375 on the hourly chart of ETH\/USD. The trend line support is close to the 76.4% Fib retracement level of the recent increase from the $373 swing low to $385 high. On the upside, the bulls are facing a strong resistance near $385. A clear break above the $385 resistance could open the doors for a push towards the $400 resistance level in the coming sessions. Downside Break in ETH? If Ethereum fails to clear the $385 resistance levels, it might continue to move down. An immediate support is near the $378 zone. The main support is near the trend line and $375. A clear break below the $375 support level and the 100 hourly simple moving average might start a fresh decline. In the stated case, the price could revisit the $365 support zone. Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is slowly moving in the bearish zone. Hourly RSI &#8211; The RSI for ETH\/USD is now just above the 50 level. Major Support Level \u2013 $375 Major Resistance Level \u2013 $385<\/p>\n","protected":false},"author":67,"featured_media":447084,"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-447082","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 Soon Fade If ETH Fails To Clear $385<\/title>\n<meta name=\"description\" content=\"Ethereum is slowly rising and trading well above $375. 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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 Soon Fade If ETH Fails To Clear $385","url":"http:\/\/wncen.com\/news\/ethereum\/ethereum-recovery-could-soon-385\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/ethereum\/ethereum-recovery-could-soon-385\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/10\/shutterstock_1181443780-scaled.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/10\/shutterstock_1181443780-scaled.jpg?fit=2560%2C1920"},"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":"2020-10-20T05:48:42Z","datePublished":"2020-10-20T05:48:42Z","dateModified":"2024-06-11T14:07:18Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"TA: Ethereum Recovery Could Soon Fade If ETH Fails To Clear $385\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/ethereum\\\/ethereum-recovery-could-soon-385\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/ethereum\\\/ethereum-recovery-could-soon-385\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/10\\\/shutterstock_1181443780-scaled.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/10\\\/shutterstock_1181443780-scaled.jpg?fit=2560%2C1920\"},\"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\":\"2020-10-20T05:48:42Z\",\"datePublished\":\"2020-10-20T05:48:42Z\",\"dateModified\":\"2024-06-11T14:07:18Z\"}<\/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_1181443780-scaled.jpg?fit=2560%2C1920","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/447082"}],"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=447082"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/447082\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/447084"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=447082"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=447082"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=447082"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}