Ethereum Breaks Crucial Resistance, Technical Suggest More Upsides Above $400

Ethereum Breaks Crucial Resistance, Technical Suggest More Upsides Above $400


Ethereum is up over 5% and it broke the key $370 and $380 resistance levels against the US Dollar. ETH price could continue to rise towards $400 or $420 as long as it is above $370.

ETH price is gaining momentum above the $360 and $370 resistance levels against the US Dollar. The price is now trading nicely above $375 and the 100 simple moving average (4-hours). There is a crucial rising channel forming with support near $350 on the 4-hours chart of ETH/USD (data feed via Kraken). The pair is likely to continue higher towards $400 or $420 as long as the channel support is intact. Ethereum Price Turns Positive

This past week, Ethereum managed to recover above the $350 resistance to move into a positive zone against the US Dollar. ETH price gained bullish momentum and surpassed the $360 resistance level.

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The price gained pace after it broke the 23.6% Fib retracement level of the downward move

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