Ethereum Lacks Momentum Above $370: Here’s Why Bulls Are Comfortable

Ethereum Lacks Momentum Above $370: Here’s Why Bulls Are Comfortable


Ethereum failed to continue high above $390 against the US Dollar. ETH price is currently trading above a crucial support at $350, below which it could turn negative.

Ethereum declined below the $375 support after it failed near the $390 level. The price is now trading below the 100 hourly simple moving average, but it is well above $350. There is a crucial bullish trend line forming with support near $358 on the hourly chart of ETH/USD (data feed via Kraken). The pair must stay above the $350 support level to start a fresh increase in the near term. Ethereum Price Testing Key Support

There was a decent upward move in Ethereum above the $350 and $370 resistance levels. ETH price even broke the $375 resistance zone and the 100 hourly simple moving average.

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However, the price failed to test the $400 barrier and recently started a fresh decline from the $390 high. It broke the $375 and $370

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