Against the US dollar, ETH could not overcome the $1,350 barrier and adjusted downward. The crypto maintains crucial stability and may attempt a new push to $1,400. Ether began to trend downward and tried the $1,265 resistance level. Currently, ETH trades slightly above the $1,300 mark.
The ETH/USD hourly chart shows a significant upward trend, developing a resistance level of around $1,295. The pair appears to be increasing again just above the support point of $1,350.
ETH’s Value Still At Resistance Level
Comparable to the value of BTC, Eth failed to move further over the $1,350 support. At $1,343, ETH established a temporary spike and began a downward trend. The crypto registered a decline below the $1,320 and $1,300 marks.
The values of ETH even dropped beyond $1,280 and 100 hourly SMA. Nevertheless, the bulls were strong, close to the $1,265 resistance level. ETH established a low of around $1,262, and the value has since begun to rise.
The crypto asset also registered an upwards move beyond the $1,290 and $1,300 resistance levels. The price moved beyond the 50% Fibonacci regression mark of the latest downturn from the swing high of $1,343 to the low of $1,262. Currently, ETH trades above the $1,300 and 100 hourly SMA
What Happens To ETH If It Fails To Overcome $1,315 Resistance Level?
On the ETH/USD hourly chart, a significant ascending pattern line with resistance close to $1,295 is also developing. The $1,315 level is a nearby upward prompt support.
It is very close to the 61.8 percent Fib retracement level of the most current crash from the swing high of $1,343 to the low of $1,262. More increases may be possible if there is an apparent upward breakthrough over the $1,315 support area.
ETH may keep falling if it cannot overcome the $1,315 barrier. There is early resistance to the downturn in the region of the $1,300 mark and the 100 hourly simple moving average.
Around the $1,265 mark may be the next significant resistance. A downward breach beyond the $1,265 region might trigger a new descent below $1,215. Any more declines may pave the way for a push toward the $1,150 resistance.