• ETH/USD practically unchanged, blocked by strong technical levels.
  • The stiff resistance comes at $380, support at $350.

ETH/USD is frozen at $360, basically unchanged both on a daily basis and from the beginning of Friday. While Bitcoin has initiated a convincing short-term recovery from the recent lows, the second largest cryptocurrency with the market capitalization of about $36.7B lags behind. A confluence of strong technical levels holds it back below critical $380, which needs to be cleared before we can hope for a more extended upside towards $400. 

From the short-term perspective, ETH/USD stays below the SMA50 - 1hour chart, which makes the picture a bit gloomy. However, as long as the coin trades above $350, there is a chance for further recovery. $380 handle is guarded by SMA100 - 1hour chart, followed by psychological $400 with SMA200 - 1hour on approach. It is likely to stop the recovery process if we ever get there. On the downside, a sustainable movement below $350 will open up the way towards $330 and $300.

Fundamentally, there is no separate news that might influence ETH momentum right now. The coin is vulnerable to technical trading and speculative flows. However, another case of spam attack on Ethereum network might push the price in the South direction.

ETH/USD, 1-hour chart

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

Cryptos feed

Latest Crypto News & Analysis

Editors’ Picks

Bitcoin will surpass gold by market value and cost over $500 000 in 9 years - Bobby Lee

One bitcoin will half a million dollars by 2028, according to Bobby Lee, the co-founder and the former CEO of China's lowest cryptocurrency exchange BTCC.

More Bitcoin News

Stellar (XLM) retreats from weekend high, stays in green on a day-to-day basis

Stellar (XLM) recovered from the recent low of $0.0683 to trade at $0.0815 on Sunday. By the time of writing, the coin has partially reversed the gains and settled act $0.0778; however, it still enjoys 3% of gains on a day-to-day basis. 

More Stellar Lumens News

Ethereum price analysis: ETH/USD sits in a long-term range

ETH/USD is trading at $186.57 at the time of writing, having retreated from the intraday high of $190.28. The second-largest digital asset with the current market value of $20.3 billion has lost 1.34% of its value since the beginning of Monday and stayed mostly unchanged on a day-to-day basis. 

More Ethereum News

Ripple price update: Reignited bearish momentum targets $0.27

Ripple continues to be depressed towards $0.27 (recent support). It is clear recovery towards $0.30 is nothing but a mirage based on the current technical picture.

More Ripple News

BEST CRYPTO BROKERS/EXCHANGES

Bitcoin Weekly Forecast: Bulls wasted their chance

Bitcoin has been oscillating in a depressingly tight range since the beginning of November. Vanishing volatility makes it harder to engineer a decisive breakthrough from the range. 

Read the weekly forecast

BTC

ETH

XRP