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’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
-637342362440485940.png){kind=link}
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.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.