{"id":4348,"date":"2020-09-13T06:48:07","date_gmt":"2020-09-13T06:48:07","guid":{"rendered":"https:\/\/www.newsbtc.com\/?p=438262"},"modified":"2020-09-13T06:48:07","modified_gmt":"2020-09-13T06:48:07","slug":"ethereum-breaks-crucial-resistance-technical-suggest-more-upsides-above-400","status":"publish","type":"post","link":"https:\/\/www.buyucoin.com\/crypto-labs\/ethereum-breaks-crucial-resistance-technical-suggest-more-upsides-above-400\/","title":{"rendered":"Ethereum Breaks Crucial Resistance, Technical Suggest More Upsides Above $400"},"content":{"rendered":"<p><em>Ethereum is up over 5% and it broke the key $370 and $380 resistance levels against the US Dollar. ETH price could continue to rise towards $400 or $420 as long as it is above $370.<\/em><\/p>\n<ul>\n<li>ETH price is gaining momentum above the $360 and $370 resistance levels against the US Dollar.<\/li>\n<li>The price is now trading nicely above $375 and the 100 simple moving average (4-hours).<\/li>\n<li>There is a crucial rising channel forming with support near $350 on the 4-hours chart of ETH\/USD (data feed via Kraken).<\/li>\n<li>The pair is likely to continue higher towards $400 or $420 as long as the channel support is intact.<\/li>\n<\/ul>\n<h2>Ethereum Price Turns Positive<\/h2>\n<p>This past week, <a href=\"https:\/\/www.newsbtc.com\/2020\/09\/11\/ethereum-likely-gearing-for-lift-off-400\/\" target=\"_blank\" rel=\"noopener noreferrer\">Ethereum managed to recover above the $350 resistance<\/a> to move into a positive zone against the US Dollar. ETH price gained bullish momentum and surpassed the $360 resistance level.<\/p>\n<p>The price gained pace after it broke the 23.6% Fib retracement level of the downward move from the $490 swing high to $310 low. Ether price is now trading nicely above $375 and the 100 simple moving average (4-hours).<\/p>\n<p>It seems like there is a crucial rising channel forming with support near $350 on the 4-hours chart of ETH\/USD. On the upside, an initial resistance is near the channel resistance at $395. The first <a href=\"https:\/\/www.newsbtc.com\/2020\/09\/10\/ethereum-rallies-10\/\" target=\"_blank\" rel=\"noopener noreferrer\">major resistance<\/a> for the bulls is near the $400 level.<\/p>\n<p><a href=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2020\/09\/Ethereum-10.png\"><img decoding=\"async\" loading=\"lazy\" width=\"1828\" height=\"868\" class=\"alignnone size-full wp-image-438263\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2020\/09\/Ethereum-10.png\" alt=\"Ethereum Price\" srcset=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2020\/09\/Ethereum-10.png 1828w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2020\/09\/Ethereum-10-460x218.png 460w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2020\/09\/Ethereum-10-860x408.png 860w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2020\/09\/Ethereum-10-768x365.png 768w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2020\/09\/Ethereum-10-1536x729.png 1536w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2020\/09\/Ethereum-10-750x356.png 750w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2020\/09\/Ethereum-10-1140x541.png 1140w\" sizes=\"(max-width: 1828px) 100vw, 1828px\" \/><\/a><\/p>\n<p>The 50% Fib retracement level of the downward move from the $490 swing high to $310 low is also near the $400 level to act as a hurdle for the bulls. To move into a positive zone, ether must climb above the $400 resistance.<\/p>\n<p>The next major resistance is near the $420 level, above which the bulls are likely to aim a test of the $500 handle in the coming days.<\/p>\n<h2>Downsides Supported in Ether (ETH)?<\/h2>\n<p>If Ethereum fails to clear the $400 resistance zone, it might start a downside correction. An initial support is near the $375 level or the 100 simple moving average (4-hours).<\/p>\n<p>The next major support is near the $360 level or the channel lower trend line at $350. A successful daily close below the $350 support could start another slide towards the $310 support zone.<\/p>\n<p>Technical Indicators<\/p>\n<p>4 hours MACD \u2013 The MACD for ETH\/USD is gaining pace in the bullish zone.<\/p>\n<p>4 hours RSI &#8211; The RSI for ETH\/USD is now well above the 50 level.<\/p>\n<p>Major Support Level \u2013 $350<\/p>\n<p>Major Resistance Level \u2013 $400<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum is up over 5% and it broke the key $370 and $380 resistance levels against the US Dollar. ETH price&#8230;<\/p>\n","protected":false},"author":1,"featured_media":4349,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[55],"tags":[112,73,111,113],"class_list":["post-4348","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-daily-crypto-news","tag-analysis","tag-ethereum","tag-ethusd","tag-ethusdt"],"_links":{"self":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/4348"}],"collection":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/comments?post=4348"}],"version-history":[{"count":0,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/4348\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media\/4349"}],"wp:attachment":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media?parent=4348"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/categories?post=4348"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/tags?post=4348"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}