Here are Key Support and Resistance Levels for Ethereum Price - September 30, 2020 - News-Credit-Mortgage-Coin

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Here are Key Support and Resistance Levels for Ethereum Price - September 30, 2020

Resistance Levels for Ethereum Price

 

Ethereum price is struggling to clear the $ 360 and $ 365 resistance levels against the US Dollar. According to popular analyst Aayush Jindal, Ethereum price is showing signs of bearishness and could drop below $ 350 and $ 345.


Ethereum price is still facing resistance near the $ 360 and $ 365 levels.

The price is currently close to the $ 355 support and the 100 hourly simple moving average.

There is a new bullish trend line formed with support near $ 352 on the hourly chart of ETH / USD (data flow via Kraken).

If the pair breaks the $ 352 and $ 350 support levels, it will likely continue to decline.

Aayush Jindal: Ethereum price is facing many hurdles!

Ethereum price remained stable above the $ 350 support level but still faces heavy resistance near the $ 360 and $ 365 levels. ETH started an upward move from its $ 350 low and moved above the 100 hourly simple moving average. There was a break above the 23.6% Fib retracement level of the bearish move. However, the $ 360 resistance and the broken bullish trend line serve as a strong resistance for the bulls.



The 50% Fib retracement level of its move from $ 369 to $ 350 also serves as a resistance. Ethereum price is currently stable and is trading near the $ 355 support level. There appears to be a new bullish trend line formed with support near $ 352 on the hourly chart of the ETH / USD pair.


Here are the key levels that Ethereum price can see

If ether continues to decline and breaks the trendline support at $ 352, there is a greater risk of dips. The next main support is near the $ 350 and $ 348 levels, below that, the bears are aiming for a larger drop towards the $ 335 support level in the near term.

If Ethereum manages to stay above the $ 352 and $ 350 support levels, there is a chance for an upside break. The initial resistance is near the $ 360 level, according to the analyst. The first key resistance could be near the $ 362 level and above that, the bulls could aim for a clear break above the $ 365 resistance level. The next major resistance is near the $ 375 zone, according to the analyst.



Current outlook of Ethereum price with technical indicators

Hourly MACD: The MACD for the ETH / USD party is slowly returning to the bearish zone.


Hourly RSI: The RSI for the ETH / USD party is currently falling and well below the 50 level.

Major Support Level: $ 350.

Major Resistance Level: $ 360.

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