{"id":450246,"date":"2020-11-19T05:28:23","date_gmt":"2020-11-19T05:28:23","guid":{"rendered":"https:\/\/wncen.com\/?p=450246"},"modified":"2024-06-11T14:08:34","modified_gmt":"2024-06-11T14:08:34","slug":"ethereum-struggles-below-485","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/ethereum-struggles-below-485\/","title":{"rendered":"TA: Ethereum Struggles Below $485, Why 100 SMA Is The Key"},"content":{"rendered":"
Ethereum rallied close to $495, but it failed to test $500 against the US Dollar. ETH price is currently correcting gains (similar to bitcoin<\/a>) and showing bearish signs below $485.<\/em><\/p>\n Ethereum rallied above the $480 and $485 resistance levels<\/a>, but it failed to test the $500 barrier. ETH formed a high near the $495 level and it settled well above the 100 hourly simple moving average.<\/p>\n Recently, there was a sharp downside correction below the $485 pivot level. Ether price even broke the $480 support, but the bulls were able to protect the $470 support and the 100 hourly simple moving average.<\/p>\n The recent low was formed near the $470 level and the recent high was near $482. The price is currently declining and trading below the $480 level. It is testing the $476 support or the 50% Fib retracement level of the recent wave from the $470 low to $482 high.<\/p>\n <\/a><\/p>\n The next major support is near the $474 level. There is also a major bullish trend line forming with support near $474 on the hourly chart of ETH\/USD. The trend line coincides with the 61.8% Fib retracement level of the recent wave from the $470 low to $482 high.<\/p>\n The main support is near the $470 level and the 100 hourly simple moving average. If there is a clear break below the trend line support, $470, and the 100 hourly SMA, the price could decline sharply towards the $455 level in the coming sessions.<\/p>\n If ethereum stays above the trend line support or $470, it could attempt a fresh increase. An initial resistance on the upside is near the $482 high.<\/p>\n The first major resistance is near the $485 level. A successful break above the $485 pivot level could open the doors for a fresh increase towards the $495 high or even $500.<\/p>\n Technical Indicators<\/p>\n Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is slowly losing momentum in the bullish zone.<\/p>\n Hourly RSI – <\/strong>The RSI for ETH\/USD is now just below the 50 level.<\/p>\n Major Support Level \u2013 $470<\/p>\n Major Resistance Level \u2013 $485<\/p>\n","protected":false},"excerpt":{"rendered":" Ethereum rallied close to $495, but it failed to test $500 against the US Dollar. ETH price is currently correcting gains (similar to bitcoin) and showing bearish signs below $485. Ethereum is correcting lower and trading below the key $485 pivot level. The price is holding the main $470 support level and the 100 hourly simple moving average. There is a major bullish trend line forming with support near $474 on the hourly chart of ETH\/USD (data feed via Kraken). The pair could decline sharply if there is a clear break below $474 and $470 in the near term. Ethereum Price is Approaching Key Support Ethereum rallied above the $480 and $485 resistance levels, but it failed to test the $500 barrier. ETH formed a high near the $495 level and it settled well above the 100 hourly simple moving average. Recently, there was a sharp downside correction below the $485 pivot level. Ether price even broke the $480 support, but the bulls were able to protect the $470 support and the 100 hourly simple moving average. The recent low was formed near the $470 level and the recent high was near $482. The price is currently declining and trading below the $480 level. It is testing the $476 support or the 50% Fib retracement level of the recent wave from the $470 low to $482 high. Source: ETHUSD on TradingView.com The next major support is near the $474 level. There is also a major bullish trend line forming with support near $474 on the hourly chart of ETH\/USD. The trend line coincides with the 61.8% Fib retracement level of the recent wave from the $470 low to $482 high. The main support is near the $470 level and the 100 hourly simple moving average. If there is a clear break below the trend line support, $470, and the 100 hourly SMA, the price could decline sharply towards the $455 level in the coming sessions. Fresh Increase in ETH? If ethereum stays above the trend line support or $470, it could attempt a fresh increase. An initial resistance on the upside is near the $482 high. The first major resistance is near the $485 level. A successful break above the $485 pivot level could open the doors for a fresh increase towards the $495 high or even $500. Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is slowly losing momentum in the bullish zone. Hourly RSI – The RSI for ETH\/USD is now just below the 50 level. Major Support Level \u2013 $470 Major Resistance Level \u2013 $485<\/p>\n","protected":false},"author":67,"featured_media":450248,"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-450246","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 is Approaching Key Support<\/h2>\n
Source: ETHUSD on TradingView.com<\/a><\/pre>\n
Fresh Increase in ETH?<\/h2>\n