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Ethereum Technical Analysis: ETH/USD comfortably trading above $400 waiting for the next leg up

  • Bulls finally managed to crack $400 on August 13 and are now comfortably trading at $246.
  • Ethereum is back under consolidation and waiting for the next leg up. 
Ethereum Technical Analysis: ETH/USD comfortably trading above $400 waiting for the next leg up
Lorenzo StroeLorenzo StroeIndependent Analyst

Ethereum is in a healthy and sturdy bull run. The rally is robust because bulls have been able to establish clear levels of support on the way up. Ideally, a good rally should have periods of consolidation and sideways trading before going up more. 

ETH/USD daily chart

ETHUSD

Similar to what happened two weeks ago, Ethereum is now trading sideways waiting for the 12-EMA to catch up. For now, there is a support level established at $412 and of course, the crucial $400 level.

Author

Lorenzo Stroe

Lorenzo Stroe

Independent Analyst

Lorenzo is an experienced Technical Analyst and Content Writer who has been working in the cryptocurrency industry since 2012. He also has a passion for trading.

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