Ethereum Technical Analysis: ETH/USD gets rejected from $400 again
- ETH/USD attempted to climb above $400 again but immediately dropped to $382.
- Ethereum is still in a daily uptrend under healthy consolidation.
The price of Ethereum hasn’t changed much during the past few days despite the massive flash crash down to $330 suffered on August 2. The digital asset is currently fighting to stay above $400 but will not face a lot of resistance until $500.
ETH/USD daily chart
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The 12-EMA in the daily chart is still only at $342 so it will take a few more days for it to catch up with the price. Ethereum hasn’t seen any major pullbacks yet and will use both EMAs for support if it happens.
ETH/USD weekly chart
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The current candlestick is a DOJI but only because of the flash crash. The most important signal for Ethereum is the break of $363, which represented a major resistance level. If the bulls can stay above this level and close August, they will absolutely confirm a monthly uptrend.
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.
