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.

Lorenzo Stroe Independent 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

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

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.

Markets move fast. We move first.

Orange Juice Newsletter brings you expert driven insights - not headlines. Every day on your inbox.

Editor's Picks

XRP steadies above $1.90 support as fund inflows and retail demand rise

Ripple (XRP) is stable above support at $1.90 at the time of writing on Monday, after several attempts to break above the $2.00 hurdle failed to materialize last week. Meanwhile, institutional interest in the cross-border remittance token has remained steady.

Cardano struggles to extend gains as retail interest wanes despite Midnight's NIGHT token launch

Cardano ticks higher after a bearish weekend, struggling to extend an upcycle within a descending wedge pattern. On-chain data shows an increase in trading volume and user activity after the Midnight side chain token launch.

Crypto Today: Bitcoin, Ethereum recover as XRP remains supported by ETF inflows

Bitcoin is trending up toward the pivotal $90,000 level at the time of writing on Monday, which marks four consecutive days of gains. Altcoins, including Ethereum and Ripple, are also rebounding above key short-term support levels.

Bitcoin nears $90,000 as recovery hopes clash with institutional outflows

Bitcoin is approaching the $90,000 resistance level at the time of writing on Monday, raising hopes of a short-term recovery. However, the bullish recovery is being challenged by weakening institutional demand, as evidenced by outflows from Spot ETFs.

Orange Juice Newsletter – Smart insights by real people. Every day.

A free newsletter highlighting key market trends to help traders stay a step ahead. Daily insights on the most relevant trading topics, compiled by our experts in an easy-to-read format so you never miss an important move.

Bitcoin: Fed delivers, yet fails to impress BTC traders

Bitcoin (BTC) continues de trade within the recent consolidation phase, hovering around $92,000 at the time of writing on Friday, as investors digest the Federal Reserve’s (Fed) cautious December rate cut and its implications for risk assets.

ETH/USD daily chart

Legal Text

Markets move fast. We move first.

Editor's Picks