{"id":433020,"date":"2020-08-02T05:48:36","date_gmt":"2020-08-02T05:48:36","guid":{"rendered":"https:\/\/ktsl888.com\/?p=433020"},"modified":"2024-06-11T14:05:57","modified_gmt":"2024-06-11T14:05:57","slug":"ethereum-nosedives-from-415","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/ethereum-nosedives-from-415\/","title":{"rendered":"Ethereum Nosedives From $415, But Technicals Suggest Uptrend Isn\u2019t Over Yet"},"content":{"rendered":"
Ethereum rallied more than 5% and broke the $400 resistance against the US Dollar. ETH price retreated sharply from $415, but technicals suggest uptrend remains intact above $340.<\/em><\/p>\n In the past few days, there was a strong increase in Ethereum<\/a> above the $300 and $320 levels against the US Dollar. ETH price even broke the $350 resistance and settled well above the 100 simple moving average (4-hours).<\/p>\n The upward move was strong and ether surged above the $380 and $400 levels. The price traded to a new multi-moth high near the $415 level and it is currently correcting lower. There was a sharp bearish reaction from the $415 swing high and the price dropped more than $50.<\/p>\n There was a huge spike below the $350 support level<\/a>. The price even dumped below the 50% Fib retracement level of the recent surge from the $316 swing low to $415 high. However, ether remained well bid near the $300 support level and the 100 simple moving average (4-hours).<\/p>\n <\/a><\/p>\n It traded close to the 1.236 Fib extension level of the recent surge from the $316 swing low to $415 high. More importantly, there are two key bullish trend lines forming with support near $365 and $340 on the 4-hours chart of ETH\/USD.<\/p>\n The pair is currently recovering and it is back above the $350 level. An initial resistance is near the $380 level, above which the bulls may perhaps push the price above $400. A daily close above the $400 level could lead the price towards the $420 and $432 levels in the coming days.<\/p>\n If Ethereum remains below the $400 and $380 resistance levels, there could be more downsides. The first major support is near the $340 level, below which the price might struggle in the short term.<\/p>\n The next major support is near the $305 and $300 levels (the recent breakout zone), below which the bears are likely to target an extended correction towards the $280 support level.<\/p>\n Technical Indicators<\/p>\n 4 hours MACD \u2013 The MACD for ETH\/USD is losing momentum in the bullish zone.<\/p>\n 4 hours RSI – The RSI for ETH\/USD is still above the 50 level.<\/p>\n Major Support Level \u2013 $340<\/p>\n Major Resistance Level \u2013 $380<\/p>\n","protected":false},"excerpt":{"rendered":" Ethereum rallied more than 5% and broke the $400 resistance against the US Dollar. ETH price retreated sharply from $415, but technicals suggest uptrend remains intact above $340. ETH price surged above the $380 and $400 resistance levels against the US Dollar. There was a strong bearish reaction from the $415 level and the price dumped more than $50. There are two key bullish trend lines forming with support near $365 and $340 on the 4-hours chart of ETH\/USD (data feed via Kraken). The pair is likely to recover and rise above $380 as long as it is trading above $340. Ethereum Price is Correcting Gains In the past few days, there was a strong increase in Ethereum above the $300 and $320 levels against the US Dollar. ETH price even broke the $350 resistance and settled well above the 100 simple moving average (4-hours). The upward move was strong and ether surged above the $380 and $400 levels. The price traded to a new multi-moth high near the $415 level and it is currently correcting lower. There was a sharp bearish reaction from the $415 swing high and the price dropped more than $50. There was a huge spike below the $350 support level. The price even dumped below the 50% Fib retracement level of the recent surge from the $316 swing low to $415 high. However, ether remained well bid near the $300 support level and the 100 simple moving average (4-hours). Ethereum price trades above $400. Source: TradingView.com It traded close to the 1.236 Fib extension level of the recent surge from the $316 swing low to $415 high. More importantly, there are two key bullish trend lines forming with support near $365 and $340 on the 4-hours chart of ETH\/USD. The pair is currently recovering and it is back above the $350 level. An initial resistance is near the $380 level, above which the bulls may perhaps push the price above $400. A daily close above the $400 level could lead the price towards the $420 and $432 levels in the coming days. Downsides Limited in Ether (ETH)? If Ethereum remains below the $400 and $380 resistance levels, there could be more downsides. The first major support is near the $340 level, below which the price might struggle in the short term. The next major support is near the $305 and $300 levels (the recent breakout zone), below which the bears are likely to target an extended correction towards the $280 support level. Technical Indicators 4 hours MACD \u2013 The MACD for ETH\/USD is losing momentum in the bullish zone. 4 hours RSI – The RSI for ETH\/USD is still above the 50 level. Major Support Level \u2013 $340 Major Resistance Level \u2013 $380<\/p>\n","protected":false},"author":67,"featured_media":433022,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3,13625,4],"tags":[1946,8686,78803],"class_list":["post-433020","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-ethereum","category-analysis","tag-ethereum","tag-ethusd","tag-ethusdt"],"acf":[],"yoast_head":"\n\n
Ethereum Price is Correcting Gains<\/h2>\n
Ethereum price trades above $400. Source: TradingView.com<\/a><\/pre>\n
Downsides Limited in Ether (ETH)?<\/h2>\n