• Advertise
  • Submit a Press Release
  • About Us
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Play FinanceTry
  • Claim 7 BTCTry
No Result
View All Result
Breaking News: Coinbase Caught In SEC Legal Crossfire, COIN Price Suffers
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Play FinanceTry
  • Claim 7 BTCTry
No Result
View All Result
Bitcoin News
No Result
View All Result
Breaking News: Coinbase Caught In SEC Legal Crossfire, COIN Price Suffers
Ethereum

TA: Ethereum Bulls Aim Big After Recent Surge Above $400: Rally Isn’t Over Yet

Aayush Jindal by Aayush Jindal
3 years ago
in ETH
Reading Time: 2 mins read

Ethereum surged over 10% and it settled nicely above the $400 resistance against the US Dollar. ETH price is consolidating gains and it seems like it could rally further above $420.

  • Ethereum gained bullish momentum above the $400 and $410 resistance levels.
  • The price traded to a new monthly high at $422 and settled above the 100 hourly simple moving average.
  • There is a major bullish trend line forming with support near $411 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair is likely to surge above $420 unless it starts an extended correction towards $400.

Ethereum Price Holding Uptrend Support

Ethereum gained a strong bullish momentum above the $400 resistance level. ETH price even broke the $410 resistance level and settled well above the 100 hourly simple moving average.

The upward move such that the price even spiked above the $420 resistance. A new monthly high was formed near the $422 level before the price started a downside correction. Ether corrected lower below the $415 level, plus the 23.6% Fib retracement level of the recent surge from the $392 swing low to $422 high.

However, the price is trading nicely above the $410 support level. There is also a major bullish trend line forming with support near $411 on the hourly chart of ETH/USD.

Ethereum Price

Source: ETHUSD on TradingView.com

If there is a break below the trend line support, the price could correct lower towards the $406 support. It is close to the 50% Fib retracement level of the recent surge from the $392 swing low to $422 high.

Conversely, ether price is likely to continue higher above the $415 and $420 resistance levels. A clear break above the $422 high might open the doors for a steady increase towards the $430 and $435 levels in the near term.

Dips Likely Supported in ETH

If Ethereum fails to clear the $420 resistance level, it might continue to correct lower. The first major support is near the trend line and $410.

A downside break below the $410 support level could lead the price towards the $405-406 support zone. The main support is now forming near the $400 level (the recent breakout zone).

Technical Indicators

Hourly MACD – The MACD for ETH/USD is slowly moving in the bearish zone.

Hourly RSI – The RSI for ETH/USD is still well above the 50 level.

Major Support Level – $410

Major Resistance Level – $420

Tags: ethereumethusdETHUSDT
Tweet123Share196ShareSend
Aayush Jindal

Aayush Jindal

Aayush is a Senior Forex, Cryptocurrencies, and Financial Market Strategist. He specializes in market strategies and technical analysis and has spent over 15 years as a financial markets contributor and observer. He also founded an IT company and works rigorously in providing high-quality software services. Aayush possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the currency, commodities, Bitcoin, and Ethereum markets. Follow him on Twitter @AayushJs.

Related Posts

Ethereum Price Eyes More Gains

Ethereum Price Regains Strength But Key Downtrend Resistance Intact

2 hours ago
Ethereum

Ethereum Price Bearish Breakdown – Why Drop Isn’t Over Yet

1 day ago
Ethereum

Ethereum Price at Clear Risk of Further Losses After Multiple Rejections

2 days ago
Ethereum

Ethereum Price Smashes Resistance, $1,900 Could Be Next

5 days ago
Ethereum Price ETH

Ethereum Price Topside Bias Vulnerable If It Continues To Struggle Below $1,920

6 days ago
TA: Ethereum Key Indicators Suggest Strengthening Case For More Upsides

Ethereum Price is Primed For a Rally And Only 1 Thing is Holding it Back

1 week ago

Premium Partners

Play Finance

Now Trending

  • Potential 20x+ Crypto Presales 2023

    6 days ago
  • Willing to buy new crypto: Here are the best 10...

    7 days ago
  • Best Crypto Meme Coin Presales in 2023

    7 days ago

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Trust Dice

Trust Dice

Review · Visit
mBit

mBit

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit

Press Releases

  • Crypto Enthusiast Considers TMS Network (TMSN) A Great...

    1 hour ago
  • Kava vs. AltSignals. Which Token Has a Better Chance To 10x...

    1 hour ago
  • Investors Troop To Sparklo (SPRK) Amid Binance Coin (BNB)...

    1 hour ago
  • Can Mooky.io Outpace Dogelon Mars (ELON) and Big Eye Coin...

    11 hours ago
  • Is Mooky the Next Breakout Star after the Impressive Gains...

    12 hours ago

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

Company

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

© 2023 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play Games
  • Play Casino Games
  • Play Finance
  • Claim 7 BTC

© 2023 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.