- ETH / USD is currently trading at $ 395 and is extremely close to the daily 12-EMA.
- Bulls need to climb above $ 396 and ideally $ 400 to regain control in the short term.
Ethereum’s period of consolidation has been a bit steeper than expected, but the large support level at around $ 360 has been maintained several times in a row.
ETH / USD daily chart
The daily uptrend remains intact as $ 360 has done pretty well. The bulls are currently trying to climb above the daily 12-EMA at $ 396 and redouble by $ 400. After the crucial resistance level, Ethereum buyers will face more resistance at $ 411.97 and then the 2020 high of $ 447.5.
Regardless, the long term is still strongly in favor of the bulls, and a daily downtrend won’t mean much.