- ETH/USD quickly climbed above $400 but got immediately rejected at $401.98.
- The second attempt happened four hours later peaking at $402.30 before, again, dropping fast.
Ethereum is currently trading at $396.61 after two rejections from $400. Fortunately for the bulls, neither rejection got any significant bearish continuation which means they are still in full control.
ETH/USD 15-minutes chart
After the first rejection at $401.98, Ethereum dropped to $398.27 and traded sideways for almost one hour before a notable drop towards $391.16, losing the 12-EMA and the 26-EMA briefly. Buyers managed to push Ethereum back above both EMAs and eventually tried to crack $400 again.
ETH/USD daily chart
Nothing has really changed for Ethereum on the daily chart, there is still a bull flag waiting to be confirmed and the 12-EMA at $350.95 currently, is trying to catch up with the price.