{"id":433100,"date":"2020-08-03T07:48:00","date_gmt":"2020-08-03T07:48:00","guid":{"rendered":"https:\/\/ktsl888.com\/?p=433100"},"modified":"2024-06-11T13:08:21","modified_gmt":"2024-06-11T13:08:21","slug":"ethereum-price-could-rally-above-400","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/ethereum-price-could-rally-above-400\/","title":{"rendered":"This Simple Breakout Pattern Could Resend Ethereum Price Above $400"},"content":{"rendered":"
Ethereum dived from the $417 swing high and traded below $350 against the US Dollar. ETH price is currently recovering above $375 and it is likely to climb back above $400.<\/em><\/p>\n After a strong rally above $350 and $400, Ethereum faced a significant bearish move<\/a> against the US Dollar. A high was formed near $417 before the price tumbled (similar to bitcoin<\/a> and ripple<\/a>) below $400 and $350.<\/p>\n The price even spiked below the $330 support level and the 100 hourly simple moving average. However, it found a strong buying interest near $305 and $300. Ether recovered sharply above the $330 and $350 levels.<\/p>\n There was a break above the $365 and $370 levels. The price is now trading near the $385 resistance zone. It is close to the 50% Fib retracement level of the recent decline from the $416 swing high to $353 swing low. It seems like there is a key contracting triangle forming with resistance near $385 on the hourly chart of ETH\/USD.<\/p>\n <\/a><\/p>\n If ether price breaks the triangle resistance, it could test the $390 resistance. The 61.8% Fib retracement level of the recent decline from the $416 swing high to $353 swing low is also near the $392 level.<\/p>\n A successful break above the triangle resistance and $392 could open the doors for a fresh increase above the $400 level. In the mentioned case, the price is likely to rise towards the $415 and $420 levels in the coming sessions.<\/p>\n The triangle support is near the $378 level. If there is a bearish break below the triangle support, Ethereum could test the $365 support.<\/p>\n The next major support is near the $360 level and the 100 hourly SMA, where the bulls are likely to take a strong stand. Any further losses could lead the price towards the $300 handle.<\/p>\n Technical Indicators<\/p>\n Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is slowly moving in the bullish zone.<\/p>\n Hourly RSI – <\/strong>The RSI for ETH\/USD is now back above the 50 level.<\/p>\n Major Support Level \u2013 $365<\/p>\n Major Resistance Level \u2013 $392<\/p>\n","protected":false},"excerpt":{"rendered":" Ethereum dived from the $417 swing high and traded below $350 against the US Dollar. ETH price is currently recovering above $375 and it is likely to climb back above $400. Ethereum started a sharp decline from the $417 high and dived towards the $300 support. The price recovered sharply above $350 and it is now trading above the 100 hourly simple moving average. There is a key contracting triangle forming with resistance near $385 on the hourly chart of ETH\/USD (data feed via Kraken). The pair seems to be setting up for a fresh bullish break above $390 and $400. Ethereum Price Is Approaching Next Break After a strong rally above $350 and $400, Ethereum faced a significant bearish move against the US Dollar. A high was formed near $417 before the price tumbled (similar to bitcoin and ripple) below $400 and $350. The price even spiked below the $330 support level and the 100 hourly simple moving average. However, it found a strong buying interest near $305 and $300. Ether recovered sharply above the $330 and $350 levels. There was a break above the $365 and $370 levels. The price is now trading near the $385 resistance zone. It is close to the 50% Fib retracement level of the recent decline from the $416 swing high to $353 swing low. It seems like there is a key contracting triangle forming with resistance near $385 on the hourly chart of ETH\/USD. Ethereum price trades above $380. Source: TradingView.com If ether price breaks the triangle resistance, it could test the $390 resistance. The 61.8% Fib retracement level of the recent decline from the $416 swing high to $353 swing low is also near the $392 level. A successful break above the triangle resistance and $392 could open the doors for a fresh increase above the $400 level. In the mentioned case, the price is likely to rise towards the $415 and $420 levels in the coming sessions. Dips Likely To Be Contained in ETH The triangle support is near the $378 level. If there is a bearish break below the triangle support, Ethereum could test the $365 support. The next major support is near the $360 level and the 100 hourly SMA, where the bulls are likely to take a strong stand. Any further losses could lead the price towards the $300 handle. Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is slowly moving in the bullish zone. Hourly RSI – The RSI for ETH\/USD is now back above the 50 level. Major Support Level \u2013 $365 Major Resistance Level \u2013 $392<\/p>\n","protected":false},"author":67,"featured_media":433102,"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-433100","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 Approaching Next Break<\/h2>\n
Ethereum price trades above $380. Source: TradingView.com<\/a><\/pre>\n
Dips Likely To Be Contained in ETH<\/h2>\n