Ethereum Price Analysis: ETH Could Gain Momentum Above $390
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Ethereum Price Analysis: ETH Could Gain Momentum Above $390


  • Ethereum price is recovering nicely and trading above the $355 resistance against the US Dollar.
  • ETH price is showing positive signs above $370 and the 55 simple moving average (4-hours).
  • There is a crucial rising channel forming with support near $363 on the 4-hours chart (data feed from Coinbase).
  • The pair could accelerate further if it clears the $390 and $400 resistance levels.

Ethereum price is showing many positive signs above $355 against the US Dollar. It seems like ETH/USD is aiming a steady rise above the $390 and $400 resistance levels.

Ethereum Price Analysis

After forming a support base above $315, Ethereum price started a fresh recovery against the US Dollar. ETH price broke a couple of key hurdles near $350 and $355 to move into a positive zone.

There was a break above the 23.6% Fib retracement level of the downward move from the $489 high to $310 swing low. The price is now showing positive signs above $370 and the 55 simple moving average (4-hours).

It seems like there is a crucial rising channel forming with support near $363 on the 4-hours chart. On the upside, an initial resistance is near the $390 level. The first major resistance is near the channel resistance and the $400 pivot level.

The 50% Fib retracement level of the downward move from the $489 high to $310 swing low is also near the $400 level to act as a major hurdle for the bulls.

If there is a clear break above the $390 and $400 resistance levels, there are chances of a steady rise in the coming sessions. The next major resistance on the upside is near the $420 level. Conversely, the price might correct lower below the $370 level.

On the downside, the price is likely to find bids near the $360 level and the channel trend line since it is close to the 55 simple moving average (4-hours). A break below the channel support and the 55 simple moving average (4-hours) could lead the price towards the $340 level.

Ethereum Price

Looking at the chart, Ethereum price is clearly recovering higher and trading nicely above the $360 level. Overall, the price could accelerate further if it clears the $390 and $400 resistance levels.

Technical indicators

4 hours MACD – The MACD for ETH/USD is now gaining momentum in the bullish zone.

4 hours RSI (Relative Strength Index) – The RSI for ETH/USD is now above the 50 level.

Key Support Levels – $360, followed by the $340 zone.

Key Resistance Levels – $390 and $400.

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Born in Bucharest, Marius is the founder of Crypto Adventure and Co-founder of Crypto Press. Since his first contact with Bitcoin and cryptocurrencies, he never stopped believing that they are one of the most important innovations of our time, which will forever change the way business is done.