{"id":440850,"date":"2020-10-05T05:48:19","date_gmt":"2020-10-05T05:48:19","guid":{"rendered":"https:\/\/ktsl888.com\/?p=440488"},"modified":"2024-06-11T17:48:09","modified_gmt":"2024-06-11T17:48:09","slug":"ethereum-reaches-crucial-resistance-technicals-hint-a-5-pullback-is-likely","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/ethereum-reaches-crucial-resistance-technicals-hint-a-5-pullback-is-likely\/","title":{"rendered":"Ethereum Reaches Crucial Resistance: Technicals Hint A 5% pullback is Likely"},"content":{"rendered":"
Ethereum is currently correcting higher above $350 against the US Dollar. ETH price is now trading near a major hurdle at $355 and it might start a fresh decline.<\/em><\/p>\n Ethereum remained stable above the key $335 support level<\/a>, and recently started a decent recovery wave. ETH price recovered nicely above the $340 and $350 resistance levels.<\/p>\n Ether price was able to settle above the $350 resistance and the 100 hourly simple moving average<\/a>. There was also a break above the 23.6% Fib retracement level of the key downward move from the $372 swing high to $335 swing low.<\/p>\n The price is now trading near a crucial resistance at $355. Ether is also testing the 50% Fib retracement level of the key downward move from the $372 swing high to $335 swing low.<\/p>\n <\/a><\/p>\n More importantly, there is a crucial contracting triangle forming with resistance near $355 on the hourly chart of ETH\/USD. To continue higher, the price must break the main $355 resistance level. The next major resistance is near the $360 level, above which the price is likely to accelerate higher towards $365.<\/p>\n A successful close above the $355 resistance and follow up move above the $360 level could also open the doors for a steady rise towards the $400 resistance level in the coming days.<\/p>\n If Ethereum fails to clear the $355 resistance, there are chances of a fresh decline. An initial support on the downside is near the triangle lower trend line at $350.<\/p>\n The 100 hourly simple moving average is also near the $350 level. A downside break below the $350 support and the 100 hourly simple moving average may perhaps clear the path for a fresh decline towards the $335 support.<\/p>\n Technical Indicators<\/p>\n Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is slowly losing pace in the bullish zone.<\/p>\n Hourly RSI – <\/strong>The RSI for ETH\/USD is currently correcting lower towards the 50 level.<\/p>\n Major Support Level \u2013 $350<\/p>\n Major Resistance Level \u2013 $355<\/p>\n","protected":false},"excerpt":{"rendered":" Ethereum is currently correcting higher above $350 against the US Dollar. ETH price is now trading near a major hurdle at $355 and it might start a fresh decline. Ethereum is up close to 2% and it broke the $350 resistance zone. The price is currently trading above the 100 hourly simple moving average, but facing hurdles near $355. There is a crucial contracting triangle forming with resistance near $355 on the hourly chart of ETH\/USD (data feed via Kraken). The pair could either rally above $355 or it might restart its decline below $350. Ethereum Price is Trading Near Key Juncture Ethereum remained stable above the key $335 support level, and recently started a decent recovery wave. ETH price recovered nicely above the $340 and $350 resistance levels. Ether price was able to settle above the $350 resistance and the 100 hourly simple moving average. There was also a break above the 23.6% Fib retracement level of the key downward move from the $372 swing high to $335 swing low. The price is now trading near a crucial resistance at $355. Ether is also testing the 50% Fib retracement level of the key downward move from the $372 swing high to $335 swing low. Ethereum price reaches $355. Source: TradingView.com More importantly, there is a crucial contracting triangle forming with resistance near $355 on the hourly chart of ETH\/USD. To continue higher, the price must break the main $355 resistance level. The next major resistance is near the $360 level, above which the price is likely to accelerate higher towards $365. A successful close above the $355 resistance and follow up move above the $360 level could also open the doors for a steady rise towards the $400 resistance level in the coming days. Fresh Bearish Break in ETH? If Ethereum fails to clear the $355 resistance, there are chances of a fresh decline. An initial support on the downside is near the triangle lower trend line at $350. The 100 hourly simple moving average is also near the $350 level. A downside break below the $350 support and the 100 hourly simple moving average may perhaps clear the path for a fresh decline towards the $335 support. Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is slowly losing pace in the bullish zone. Hourly RSI – The RSI for ETH\/USD is currently correcting lower towards the 50 level. Major Support Level \u2013 $350 Major Resistance Level \u2013 $355<\/p>\n","protected":false},"author":67,"featured_media":440490,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[],"class_list":["post-440850","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"acf":[],"yoast_head":"\n\n
Ethereum Price is Trading Near Key Juncture<\/h2>\n
Ethereum price reaches $355. Source: TradingView.com<\/a><\/pre>\n
Fresh Bearish Break in ETH?<\/h2>\n