Ethereum declined recently, but it stayed above the key $355 support against the US Dollar. ETH price is likely to accelerate higher as it seems like a double bottom pattern is forming near $355.
- Ethereum declined below the $370 support, but it stayed above the $355 support.
- The price holding the main $355 support, but it is below the 100 hourly simple moving average.
- На сатном графикону ЕТХ / УСД (дата феед виа Кракен) постоји повезујућа медвјеђа линија кретања која пружа отпор близу 370 УСД.
- The pair must stay above the $355 support level to start a fresh rally in the near term.
Ethereum Price Likely Forming A Key Bottom
In the past three sessions, Ethereum faced an increase in selling pressure below $375. ETH price broke the Подршка за 370 УСД and it even settled below the 100 hourly simple moving average.
However, the bulls were able to protect the key $355 and $350 support levels. A low is formed near $355 and the price is currently consolidating losses. It seems like there is a double bottom pattern forming with support near $350.
On the upside, an initial resistance is near the $362 level or the 23.6% Fib retracement level of the recent decline from the $384 high to $355 low. The main hurdle for ether price is near the $370 level.
Цена Етхереума тргује испод 370 УСД. Извор: ТрадингВиев.цом
There is also a connecting bearish trend line forming with resistance near $370 on the hourly chart of ETH/USD. The trend line coincides with the 100 hourly simple moving average and the 50% Fib retracement level of the recent decline from the $384 high to $355 low.
A successful close above the $370 resistance might validate the double bottom pattern. In the stated case, the price is likely to continue higher towards the $390 and Отпор 400 $ levels in the near term.
Прекид у ЕТХ?
If Ethereum fails to clear the $370 and $375 resistance levels, there is a risk of a downside break. The main support is near the double bottom zone at $355 and $350.
If there is a downside break below the $350 support zone, ether is likely to continue lower. The next major support is near the $342 level, below which the price might revisit the $330 zone.
Хоурли МАЦД - МАЦД за ЕТХ / УСД полако се креће у зони бика.
Почаси РСИ - РСИ за ЕТХ / УСД тренутно је мало изнад нивоа 40.
Главни ниво подршке - 355 УСД
Главни ниво отпора - 370 УСД