{"id":435920,"date":"2020-08-23T06:48:10","date_gmt":"2020-08-23T06:48:10","guid":{"rendered":"https:\/\/uniquehot.com\/?p=435920"},"modified":"2024-06-11T14:15:28","modified_gmt":"2024-06-11T14:15:28","slug":"ethereum-more-downsides-possible","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/ethereum-more-downsides-possible\/","title":{"rendered":"Ethereum Price and Time: More Downsides Possible Before Fresh Increase"},"content":{"rendered":"
Ethereum is down over 15% from the $445 high against the US Dollar. ETH price could continue to move down, but the $360 support zone might act as a strong barrier for the bears.<\/em><\/p>\n This past week, Ethereum failed to extend gains and started a strong decline below $420 against the US Dollar. ETH price broke the $400 support zone<\/a> and settled well below the 100 simple moving average (4-hours).<\/p>\n The decline was such that ether even spiked below the $385 support level. A low is formed near $379 and the price is currently correcting higher. It moved above the $385 level, but it is facing resistance near the $395 level.<\/p>\n It seems like the 23.6% Fib retracement level of the downward move from the $447 high to $379 low is acting as a resistance. The first major hurdle is near the $400 level and the 100 simple moving average (4-hours). There is also a key connecting bearish trend line forming with resistance near $400 on the 4-hours chart of ETH\/USD.<\/p>\n <\/a><\/p>\n If ether price breaks the $395 and $400 resistance levels, it could start a real recovery wave. The next major resistance is near the $410 level or the 50% Fib retracement level of the downward move from the $447 high to $379 low.<\/p>\n To move into a positive zone and start a fresh upward move, Ethereum must clear the $410 and $415 resistance levels in the coming days.<\/p>\n If Ethereum fails to clear the $400 resistance zone, it could continue to move down. An initial support is near the $380 level, but the first major support is near the $368 level.<\/p>\n\n
Ethereum Price Turns Red<\/h2>\n
Ethereum price trades below $400. Source: TradingView.com<\/a><\/pre>\n
Downsides Supported in Ether (ETH)?<\/h2>\n