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Ethereum (ETHUSD) holds above 353.15 again

16 Sep, 2020

Yesterday the rebound in Ethereum (ETHUSD) fell short of testing the noted 21 day moving average at 387.90 or further resistance in place at 390. The price peaked at 382.70 and later fell back again towards the end of the US session. A further fall was recorded as the midnight handover gave way to the Asian session today. That saw it drop to as low as 354.75. That low was just ahead of the noted important support level at 353.15. Since then the price has managed another limited rebound that has taken it back up to around 368 this morning. The noted wider range of 350-400 is clearly still intact, but the risk of a move below 353.15 is not yet done with. All the while that level caps the downside then there is potential for a move back above 400 again. However, the potential for stops in lie in place below 353 is obvious and still a risk. ETHUSD is just now trading at 362.90

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