{"id":103175,"date":"2020-11-02T18:00:00","date_gmt":"2020-11-02T15:00:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/ether-price-faces-a-potential-30-correction-after-failing-to-break-400\/"},"modified":"2020-11-02T18:00:00","modified_gmt":"2020-11-02T15:00:00","slug":"ether-price-faces-a-potential-30-correction-after-failing-to-break-400","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/ether-price-faces-a-potential-30-correction-after-failing-to-break-400\/","title":{"rendered":"# Ether price faces a potential 30% correction after failing to break $400"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a37a54a97c64\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a37a54a97c64\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/ether-price-faces-a-potential-30-correction-after-failing-to-break-400\/#Ether_staying_above_100-week_and_200-week_MAs\" >Ether staying above 100-week and 200-week MAs<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/ether-price-faces-a-potential-30-correction-after-failing-to-break-400\/#Ether_resting_on_368%E2%80%93375_support\" >Ether resting on $368\u2013$375 support<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/ether-price-faces-a-potential-30-correction-after-failing-to-break-400\/#ETHBTC_facing_potential_support_zones\" >ETH\/BTC facing potential support zones<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Ether price faces a potential 30% correction after failing to break $400 <\/strong>&#8221;<\/p>\n<div data-v-5a136f3a=\"\">The cryptocurrency market momentum has swung back to Bitcoin (BTC) recently as BTC dominance and trading volumes have been climbing along <a rel=\"nofollow noopener noreferrer\" target=\"_blank\" href=\"https:\/\/cointelegraph.com\/news\/bitcoin-monthly-candle-closes-above-13k-for-the-first-time-since-2017\">with its price. In that regard, the primary altcoin indicator, Ether (ETH), has not been doing well as ETH\/BTC has dropped 30% in the last two months.\u00a0<\/p>\n<p>Now, many crypto traders are asking when the altcoins will bottom out and start to rally again. Let&#8217;s take a look at what the charts are showing.\u00a0<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Ether_staying_above_100-week_and_200-week_MAs\"><\/span>Ether staying above 100-week and 200-week MAs<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2020-11\/c8519d46-ec01-478b-8658-106fcbfb53c8.png\"\/><figcaption style=\"text-align: center;\"><em>ETH\/USD 1-week chart. Source: <\/em><a rel=\"nofollow noopener noreferrer\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/x\/OPVjCApQ\/\"><em>TradingView<\/em><\/a><\/figcaption><\/figure>\n<p>The weekly chart shows a precise range, as Ether\u2019s price couldn\u2019t break through the resistance zone at $450. However, some bullish indicators are also seen on the charts.<\/p>\n<p>One of those bullish indicators is the breakthrough of the 100-week and 200-week moving averages (MAs). These MAs are often seen as a crucial indicator of bullish\/bearish sentiment of the markets. Because the price of Ether broke through the MAs in the previous months, it can be said with confidence that this cryptocurrency is in bullish territory.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"\/><\/p>\n<p>However, another bullish argument is the breakthrough above $270, which has been resistance for over a year and was only overcome in recent months. <\/p>\n<p>An <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>arent breakthrough occurred, after which the price of Ether rallied toward $450. In this breakout, however, no clear support\/resistance flip of this $270 zone occurred, which means a retracement toward this level will be relatively healthy. <\/p>\n<p>Hence, a range between $270 and $450 is established based on the weekly chart. In other words, a likely retest of the $270 area is on the table. <\/p>\n<p>Breaking the $450 to the upside means continuation toward $800 is very likely.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Ether_resting_on_368%E2%80%93375_support\"><\/span>Ether resting on $368\u2013$375 support<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2020-11\/5dc55349-4fdf-4783-8cd8-e64164493973.png\"\/><figcaption style=\"text-align: center;\"><em>ETH\/USD 1-day chart. Source: <\/em><a rel=\"nofollow noopener noreferrer\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/x\/yCnrsN5s\/\"><em>TradingView<\/em><\/a><\/figcaption><\/figure>\n<p>The daily chart shows a potential rising-wedge construction with decreasing volume. This rising-wedge construction is currently resting on the $368\u2013$378 support level. This level is crucial for lower time frames.<\/p>\n<p>If this area is lost, a sharp fall can be anticipated. In that regard, a test of the $315 level or even the $270 and potentially $250 levels are on the table. If the $368\u2013$378 level is lost, the 100-day MA will also lose its support value, indicating more downside potential.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2020-11\/2564aeec-b7a9-4fbc-8890-48a3d510fc20.png\"\/><figcaption style=\"text-align: center;\"><em>ETH\/USDT 4-hour chart. Source: <\/em><a rel=\"nofollow noopener noreferrer\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/x\/r4AB2LP8\/\"><em>TradingView<\/em><\/a><\/figcaption><\/figure>\n<p>The four-hour chart indicates a slight upward move in the previous 24 hours. However, the push upward couldn\u2019t break through the resistance zone at $400, which resulted in a significant drop afterward.<\/p>\n<p>This drop was also caused by weakness on the Bitcoin markets and a significant inflow of ETH from a single entity to the exchanges, just minutes before the fall occurred.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"ETHBTC_facing_potential_support_zones\"><\/span>ETH\/BTC facing potential support zones<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Historically, the fourth quarter is not the best period to hold ETH until it bottoms out in December. It doesn\u2019t seem to be any different this year so far, as Ether\u2019s price has fallen 30% since its recent high at 0.04 sats.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2020-11\/928d91c6-405d-43fc-839d-55e1fa700580.png\"\/><figcaption style=\"text-align: center;\"><em>ETH\/BTC 1-week chart. Source: <\/em><a rel=\"nofollow noopener noreferrer\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/x\/tkNO6Fkr\/\"><em>TradingView<\/em><\/a><\/figcaption><\/figure>\n<p>The Ether chart against Bitcoin is showing a clear view of the support and resistance levels.<\/p>\n<p>On the higher timeframes, a potential support zone is approaching. Alongside the 200-week MA, support could be found at the 0.024\u20130.026 sats area, as that\u2019s the previous resistance zone to flip for support.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2020-11\/e4125cd5-76fd-471a-8fa8-578acb1f759e.png\"\/><figcaption style=\"text-align: center;\"><em>ETH\/BTC 1-day chart. Source: <\/em><a rel=\"nofollow noopener noreferrer\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/x\/umIgb3xN\/\"><em>TradingView<\/em><\/a><\/figcaption><\/figure>\n<p>The ETH\/BTC daily chart of Ether shows a slight bounce in the last days as the 0.028 sats area served as support. However, there\u2019s no sign of reversal yet, as the price of Ether still appears to be correcting. <\/p>\n<p>Bullish arguments can be made once the upper resistance zone at 0.0315 sats breaks and flips for support. Other bullish signs include Ether bottoming out at 0.026 sats with a bullish divergence at the bottom. This would be the strongest indication of any bottom structure.<\/p>\n<p><em>The views and opinions expressed here are solely those of the <\/em><a rel=\"nofollow noopener noreferrer\" target=\"_blank\" href=\"https:\/\/twitter.com\/cryptomichnl?lang=en\"><em>author<\/em><\/a><em> and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision.<\/em><\/p>\n<\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener noreferrer\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/ethereum-price-faces-a-potential-30-correction-after-failing-to-break-400\" target=\"_blank\" rel=\"noopener noreferrer\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Ether price faces a potential 30% correction after failing to break $400 &#8221; The cryptocurrency market momentum has swung back to Bitcoin (BTC) recently as BTC dominance and trading volumes have been climbing along with its price. In that regard, the primary altcoin indicator, Ether (ETH), has not been doing well as ETH\/BTC has&#8230;<\/p>\n","protected":false},"author":1,"featured_media":103176,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/s3.cointelegraph.com\/uploads\/2020-11\/11adf8b9-ef92-4274-8095-bfa0e33eeed4.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74891,74938,74939,75164,73785],"class_list":["post-103175","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-ethereum","tag-ethereum-price","tag-market-analysis","tag-price-analysis","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/103175","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=103175"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/103175\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/103176"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=103175"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=103175"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=103175"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}