{"id":446088,"date":"2020-10-12T05:48:20","date_gmt":"2020-10-12T05:48:20","guid":{"rendered":"https:\/\/ktsl888.com\/?p=446088"},"modified":"2024-06-11T14:06:56","modified_gmt":"2024-06-11T14:06:56","slug":"ethereum-eth-dips-likely-to-be-limited","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/ethereum\/ethereum-eth-dips-likely-to-be-limited\/","title":{"rendered":"TA: Ethereum Lacks Momentum Above $375, But Dips Likely To Be Limited"},"content":{"rendered":"
Ethereum staged a strong increase and climbed above the $370 resistance against the US Dollar. ETH price is currently consolidating gains and it could correct lower.<\/em><\/p>\n Ethereum started a fresh increase after it broke the key $355 resistance level (similar to bitcoin<\/a> at $11,000). ETH price surpassed the $365 and $370 resistance levels to move into a positive zone.<\/p>\n There was also a close above the $370 level and ether price settled well above the 100 hourly simple moving average. A new monthly high is formed near $379<\/a> and the price is currently consolidating gains.<\/p>\n It corrected lower below the $372 level, plus the 23.6% Fib retracement level of the upward move from the $347 swing low to $379 high. However, the price remained well bid above the $365 support and it climbed back above $370.<\/p>\n <\/a><\/p>\n There was also no break below the 50% Fib retracement level of the upward move from the $347 swing low to $379 high. It seems like there is a short-term bullish trend line forming with support near $372 on the hourly chart of ETH\/USD.<\/p>\n On the upside, an initial resistance is near the $378 and $380 levels. A clear break above the $380 resistance level could open the doors for another increase. The next major resistance is near the $395 and $400 levels.<\/p>\n If Ethereum fails to clear the $378 resistance or $380, there could be a downside correction. A downside break below the trend line support could lead the price towards the $365 support level.<\/p>\n The 100 hourly simple moving average is also near the $365 level. Any further losses could lead ether price towards the main support at $355 (the last breakout resistance), where the bulls are likely to take a strong stand.<\/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 currently holding the 50 level, with a few bearish signs.<\/p>\n Major Support Level \u2013 $365<\/p>\n Major Resistance Level \u2013 $380<\/p>\n","protected":false},"excerpt":{"rendered":" Ethereum staged a strong increase and climbed above the $370 resistance against the US Dollar. ETH price is currently consolidating gains and it could correct lower. Ethereum started a decent increase above the $355, $365 and $370 resistance levels. The price is now well above $365 and the 100 hourly simple moving average. There is a short-term bullish trend line forming with support near $372 on the hourly chart of ETH\/USD (data feed via Kraken). The pair could correct lower, but dips are likely to remain contained near $365 or $355. Ethereum Price Consolidating Gains Ethereum started a fresh increase after it broke the key $355 resistance level (similar to bitcoin at $11,000). ETH price surpassed the $365 and $370 resistance levels to move into a positive zone. There was also a close above the $370 level and ether price settled well above the 100 hourly simple moving average. A new monthly high is formed near $379 and the price is currently consolidating gains. It corrected lower below the $372 level, plus the 23.6% Fib retracement level of the upward move from the $347 swing low to $379 high. However, the price remained well bid above the $365 support and it climbed back above $370. Ethereum price settles above $365. Source: TradingView.com There was also no break below the 50% Fib retracement level of the upward move from the $347 swing low to $379 high. It seems like there is a short-term bullish trend line forming with support near $372 on the hourly chart of ETH\/USD. On the upside, an initial resistance is near the $378 and $380 levels. A clear break above the $380 resistance level could open the doors for another increase. The next major resistance is near the $395 and $400 levels. Dips Limited in ETH? If Ethereum fails to clear the $378 resistance or $380, there could be a downside correction. A downside break below the trend line support could lead the price towards the $365 support level. The 100 hourly simple moving average is also near the $365 level. Any further losses could lead ether price towards the main support at $355 (the last breakout resistance), where the bulls are likely to take a strong stand. 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 currently holding the 50 level, with a few bearish signs. Major Support Level \u2013 $365 Major Resistance Level \u2013 $380<\/p>\n","protected":false},"author":67,"featured_media":446090,"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-446088","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 Consolidating Gains<\/h2>\n
Ethereum price settles above $365. Source: TradingView.com<\/a><\/pre>\n
Dips Limited in ETH?<\/h2>\n