Ethereum Technical Analysis: ETH/USD on its way to $400 facing only one major resistance level at $366


  • ETH/USD is trading at $344 after more continuation above $330. 
  • Ethereum bulls are in full control even though many indicators are overextended.
  • The only real resistance level is located at $366.

Ethereum continues leading the way gaining another 3% and increasing its market dominance by 0.5% in the last two days. Ethereum’s dominance was around 9.7% in June 2020 and peaked at 12% on July 27, a significant raise. 

ETH/USD daily chart

ETHUSD

Ethereum is obviously overextended but the demand is simply too strong. The next real resistance level is located at $366 and it’s the only strong point before $400. Considering the current bullish momentum, it’s hard not to see Ethereum cracking this level. 

Even at $400, which is a psychological level, there are really no other resistance levels nearby, mostly because Ethereum was crashing violently and bears couldn’t establish any resistance points. 

ETH/USD technical levels

ETH/USD

Overview
Today last price 343.17
Today Daily Change 7.89
Today Daily Change % 2.35
Today daily open 335.28
 
Trends
Daily SMA20 267.73
Daily SMA50 246.85
Daily SMA100 229.78
Daily SMA200 207.26
 
Levels
Previous Daily High 342.43
Previous Daily Low 314.46
Previous Weekly High 287.74
Previous Weekly Low 233.4
Previous Monthly High 253.48
Previous Monthly Low 216.37
Daily Fibonacci 38.2% 331.75
Daily Fibonacci 61.8% 325.15
Daily Pivot Point S1 319.02
Daily Pivot Point S2 302.75
Daily Pivot Point S3 291.05
Daily Pivot Point R1 346.99
Daily Pivot Point R2 358.7
Daily Pivot Point R3 374.96

 

 

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