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Ethereum Technical Analysis: ETH/USD is again trying to climb above $400 to continue with the uptrend

  • ETH/USD is currently trading at $395 and extremely close to the daily 12-EMA.
  • The bulls need to climb above $396 and ideally $400 to regain control in the short-term.
Ethereum Technical Analysis: ETH/USD is again trying to climb above $400 to continue with the uptrend
Lorenzo StroeLorenzo StroeIndependent Analyst

Ethereum’s consolidation period has been a bit more pronounced than expected but the big support level at around $360 was held a few times in a row. 

ETH/USD daily chart

ETHUSD

The daily uptrend remains intact because $360 has been holding quite well. Bulls are currently trying to climb above the daily 12-EMA at $396 and eying up $400 again. After the crucial resistance level, Ethereum buyers will face more resistance at $411.97 and then the 2020-high at $447.5.

Either way, the long-term is still heavily in favor of the bulls and a daily downtrend will not really mean much.

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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