- 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
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
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended Content
Editors’ Picks
Bitcoin stabilizes at crucial support after major crash
Bitcoin (BTC) trades slightly down on Thursday, after declining over 7% this week, and holds near a crucial support level; a sustained close below this threshold could signal further declines ahead.
Bitcoin history says Satoshi Nakamoto may have tested 51% attacks on the BTC blockchain
Bitcoin edges slightly lower on Thursday, consolidating this week’s sharp correction and trading close to the psychologically important $60,000 level. The crypto community has discussed the likelihood and impact of a 51% attack on the Bitcoin blockchain.
Shiba Inu and PEPE hold recent gains as Bitcoin hovers around $61,000
Bitcoin’s (BTC) price halts the decline and hovers around $61,000 at the time of writing on Thursday, after erasing recent gains and losing around 4.5% in the last seven days time frame.
BNB price is set for decline if it closes below key support level
Binance Coin price trades slightly higher at around $548 on Thursday after declining 0.88% the previous day. It is currently trading near key support, and a sustained close beneath this level could indicate further declines.
Bitcoin Weekly Forecast: $70,000 mark on sight as bulls remain strong
Bitcoin has risen around 3% so far this week, breaking above its range upper limit of $64,700. This gain was supported by increased institutional demand for ETFs, which recorded inflows of more than $612 million this week.
Five best Forex brokers in 2024
VERIFIED Choosing the best Forex broker in 2024 requires careful consideration of certain essential factors. With the wide array of options available, it is crucial to find a broker that aligns with your trading style, experience level, and financial goals.