- ETH/USD is currently trading at $386 after a failed attempt to climb above $400.
- The daily uptrend is still intact, however, bulls are losing some steam in the short-term.
Not much has changed for Etheruem which continues to be extremely bullish on all long-term timeframes. Buyers are still trying to crack $400 while bears are hoping to see a drop below $350 and perhaps confirm a daily downtrend.
ETH/USD daily chart
The daily 12-EMA at $376 is still below the current price and it will be used by the buyers as a support level. The $363 low of August 7 will also remain as a strong support point. Ethereum remains under consolidation mode, something quite healthy considering the magnitude of the bull rally.
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. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.