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Ethereum Technical Analysis: ETH/USD playing with the $400 level while the market takes a pause

  • ETH/USD is still fighting to stay above $400 as the entire market takes a brief pause.
  • Ethereum bulls are in control and are only facing a resistance point at $415.85.

Ethereum has remained relatively flat for the past four days as bulls and bears are fighting for the $400 level. The 2020-high remains at $415.21 with a support level located at $366.7 in the short-term.

ETH/USD daily chart

ETHUSD

The 12-EMA is currently at $358.83, quite far from the actual price of $397. If Ethereum crashes, bulls can use the EMA as a support level. More support can be found at $327.87.  The RSI has cooled off slightly but remains in the overbought zone.

ETH/USD 4-hour chart

ethusd

Ethereum is defending the 12-EMA while buyers are waiting for the next leg up above $400. If the 12-EMA breaks, the 26-EMA at $386.46 should serve as a strong support point.

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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