Ethereum seeks support below $320 after sellers gained traction from the new 2020 high around $320. Ether could easily ascend to another new yearly high if bulls purpose on overcoming the falling triangle resistance. Ethereum price hit a wall at the new 2020 high around $334. Bulls had a plan keep to keep the price above the support at $320, however, this dream was shattered when bearish pressure increased during the trading sessions on Tuesday. The second-largest cryptocurrency was then forced to seek refuge under $320. An intraday low of $312 has been traded on Wednesday (Asian session) but Ether has adjusted slightly upwards to $315 (prevailing market value). Declines are likely to increase in the current and upcoming sessions based on the strong bearish grip coupled with high volatility. On the other hand, lower, price movements could bounce off support at $310 which is aided by the 100 SMA ($309.71). Consequently, a breakout is anticipated on overcoming the falling triangle resistance. Such a move would have the potential to clear the hurdle at $334 and trade a new yearly high past $340. ETH/USD 1-hour chart Ethereum resistance and support levels Resistance one: $320 – Highlighted by the Fibo 61.8% one-day, the SMA ten 4-hour, the Bollinger Band one-day upper, the SMA 50 1-hour and the SMA 200 15-minutes. Resistance two: $323 – Home to the BB 15-minutes upper curve, the pivot point one-week resistance two, the previous high 4-hour and the BB 1-hour upper curve. Resistance three: $330 – Highlighted by the previous high one-day and the pivot point one-day resistance one. Support one: $313 – This a subtle support that hosts the previous low 1-hour and the BB 15-minutes lower curve. Support two: $307 – This is the strongest support area and home to the previous low one-day, the pivot point one-day support one and the SMA five one day. Support three: $300.83 – This would be the last resort in keeping the price above $300. It is home to the BB 4-hour lower curve and the pivot point one-week resistance one. More ETH/USD levels FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next USD/INR Price Analysis: Upside favored after Tuesday’s bullish hammer FX Street 3 years Ethereum seeks support below $320 after sellers gained traction from the new 2020 high around $320. Ether could easily ascend to another new yearly high if bulls purpose on overcoming the falling triangle resistance. Ethereum price hit a wall at the new 2020 high around $334. Bulls had a plan keep to keep the price above the support at $320, however, this dream was shattered when bearish pressure increased during the trading sessions on Tuesday. The second-largest cryptocurrency was then forced to seek refuge under $320. An intraday low of $312 has been traded on Wednesday (Asian session) but Ether… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
