{"id":436733,"date":"2020-08-31T05:48:27","date_gmt":"2020-08-31T05:48:27","guid":{"rendered":"https:\/\/uniquehot.com\/?p=436733"},"modified":"2024-06-11T14:15:45","modified_gmt":"2024-06-11T14:15:45","slug":"ethereum-smashes-heavy-resistance","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/ethereum-smashes-heavy-resistance\/","title":{"rendered":"Ethereum Smashes Heavy Resistance: Next Bullish Levels Traders Should Watch"},"content":{"rendered":"
Ethereum gained bullish momentum above the $406 resistance against the US Dollar. ETH price is up over 5% and it seems like the bulls are aiming a test of $445 in the coming days.<\/em><\/p>\n In the weekly analysis, we discussed the chances of more upsides in Ethereum<\/a> if it clears $408 against the US Dollar. ETH price did gain bullish momentum above the $406 and $408 resistance levels.<\/p>\n It climbed over 5% and surpassed the $420 resistance level. A high is formed near $430 and ether is now trading well above the 100 hourly simple moving average. It is currently consolidating gains below the $430 level.<\/p>\n There is a short-term breakout pattern forming with resistance near $430 on the hourly chart of ETH\/USD. The triangle support is near the 23.6% Fib retracement level of the recent upward move from the $403 swing low to $430 high.<\/p>\n <\/a><\/p>\n If there is a downside break below the triangle support, ether price could test the $420 or $416 support. The 50% Fib retracement level of the recent upward move from the $403 swing low to $430 high is also near $416.<\/p>\n On the upside, the bulls are facing hurdles near the $428 and $430 levels. A successful close above the $430 resistance could open the doors for another 3%-5% rise. The next key resistance is likely to be $445 or $450.<\/p>\n If Ethereum starts a steady downside correction, the $420 support or the $416 technical level might protect more downsides in the near term.<\/p>\n\n
Ethereum Price Gaining Bullish Momentum<\/h2>\n
Ethereum price trades above $425. Source: TradingView.com<\/a><\/pre>\n
Downsides Are Likely To Be Limited in ETH<\/h2>\n