Ethereum Technical Analysis: ETH/USD price could set a new 2020-high above $450
- Ethereum price is currently at $414 after a decent recovery from a dip below $400.
- It was looking a bit rough for bulls in the short-term, however, they have managed to bounce back up.
Ethereum price peaked at $446 before an extended consolidation period that had ETH dip below the 12-EMA and $400 but only briefly.
ETH/USD daily chart
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Buyers managed to push Ethereum’s price above $400 again and the daily 12-EMA, currently at 410. The last low of the daily uptrend is still at $365, which means that anything above this level is considered a higher low. For now, the risk of Ethereum shifting into a downtrend is minimal.
The RSI has cooled off a bit and the MACD has turned bearishly. The overall stance of Ethereum is still bullish in the short and long terms.
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.
