Ethereum Regains Strength And Its Primed To Rally Past $400

Free Bitcoins: FreeBitcoin | BonusBitcoin

Coins Kaufen: Bitcoin.deAnycoinDirektCoinbaseCoinMama (mit Kreditkarte)Paxfull

Handelsplätze / Börsen: Bitcoin.de | KuCoinBinanceBitMexBitpandaeToro

Lending / Zinsen erhalten: Celsius NetworkCoinlend (Bot)

Cloud Mining: HashflareGenesis MiningIQ Mining


Ethereum started a fresh recovery wave above $385 against the US Dollar. ETH price is showing positive signs and it could rally above $400 and $402 in the near term.

  • Ethereum is trading in a positive zone above the key $392 and $395 support levels.
  • The price even spiked above the $400 resistance and settled above the 100 hourly simple moving average.
  • There is a key bullish trend line forming with support near $392 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair is likely to continue higher if it clears the $400 and $402 resistance levels.

Ethereum Price is Recovering

After forming a support base near the $385 level, Ethereum started a decent upward move. ETH price broke the $392 and $395 resistance levels to move into a positive zone.

The price spiked above the $400 resistance settled above the 100 hourly simple moving average. A high was formed near $404 before the price corrected lower. Ether declined below the $400 support level. There was also a break below the 23.6% Fib retracement level of the upward move from the $385 low to $404 swing high.

Source: ETHUSD on TradingView.com

It is now trading nicely above the $395 support level and showing positive signs. The next key support is near the $395 level. It is close to the 50% Fib retracement level of the upward move from the $385 low to $404 swing high.

There is also a key bullish trend line forming with support near $392 on the hourly chart of ETH/USD. On the upside, ether is facing hurdles near the $400 and $402 levels.

A successful close above the $400 resistance and a follow through above the $402 zone could clear the path for a strong rally. The next stop for the bulls could be $415 or even $422.

Downsides Limited in ETH?

If Ethereum fails to clear the $400 and $402 resistance levels, there could be a downside correction. An initial support zone is near the $395 level.

The main support is forming near the trend line and $392. A clear break below the trend line support might open the doors for a sharp decline towards the $380 support.

Technical Indicators

Hourly MACDThe MACD for ETH/USD is slowly losing momentum in the bullish zone.

Hourly RSIThe RSI for ETH/USD is still well above the 60 level.

Major Support Level – $392

Major Resistance Level – $402

Source link

Free Bitcoins: FreeBitcoin | BonusBitcoin

Coins Kaufen: Bitcoin.deAnycoinDirektCoinbaseCoinMama (mit Kreditkarte)Paxfull

Handelsplätze / Börsen: Bitcoin.de | KuCoinBinanceBitMexBitpandaeToro

Lending / Zinsen erhalten: Celsius NetworkCoinlend (Bot)

Cloud Mining: HashflareGenesis MiningIQ Mining

By continuing to use the site, you agree to the use of cookies. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.

Close