• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
No Result
View All Result
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
No Result
View All Result
NewsBTC
No Result
View All Result
Ethereum
Nexo Logo

Ethereum Price Regains Bullish Momentum, But $400 Still A Key Hurdle

Aayush Jindal by Aayush Jindal
2 years ago
in Ethereum, Technical analysis
Reading Time: 2 mins read
Advertisement

Ethereum recovered nicely above the $380 and $390 levels against the US Dollar. ETH price must surpass the $400 barrier for another leg higher in the near term.

  • Ethereum is up over 5% and it broke the key $380 and $390 resistance levels.
  • The price traded close to the $398 level and it settled above the 100 hourly simple moving average.
  • There was a break above a major bearish trend line with resistance near $390 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair could correct a few points, but the previous resistance near $388 might provide support.

Ethereum Price Rallies Over 5%

After diving towards the $365 support zone, Ethereum found a strong buying interest against the US Dollar. A swing low was formed near $364 before the price started a fresh increase.

There was a break above the $375 and $380 resistance levels. There was also a break above a major bearish trend line with resistance near $390 on the hourly chart of ETH/USD. The pair climbed above the $390 resistance and settled well above the 100 hourly simple moving average.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

A new intraday high is formed near $398 and the price is currently correcting lower. There was a slight decline below the $395 level. The price is now trading near the broken trend line and the $392 zone.

Ethereum Price

Ethereum price trades above $390. Source: TradingView.com

The 23.6% Fib retracement level of the recent upward move from the $364 swing low to $398 high is also near $390 level. The first major support is near the $388 level and the 100 hourly simple moving average.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

If ether price stays above the $388 and $390 support levels, it could make another attempt to clear the $398 resistance. The main hurdle is still near the $400 level, above which the price is likely to rise towards the $412 and $420 levels in the coming sessions.

Dips Likely To Be Supported in ETH

Ethereum is likely to find a decent buying interest near the $390 and $388 levels. The main support is now forming near the $380 level.

The 50% Fib retracement level of the recent upward move from the $364 swing low to $398 high is also near the $380 level to provide a strong support in the short-term.

Technical Indicators

Hourly MACD – The MACD for ETH/USD is slowly gaining in the bullish zone.

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

Major Support Level – $380

Major Resistance Level – $398

Tags: ethereumethusdETHUSDT
Tweet123Share208ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Aayush Jindal

Aayush Jindal

Aayush is a Senior Forex, Cryptocurrencies and Financial Market Strategist with a background in IT and financial markets. He specialises in market strategies and technical analysis, and has spent over a DECADE as a financial markets contributor and observer. He possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the currency, commodities, Bitcoin and Ethereum markets.

Related Posts

Ethereum

TA: Ethereum Trims Gains, Why ETH Remains At Risk Below $1,100

5 hours ago
Bitcoin

TA: Bitcoin Recovers Sharply, Why BTC Could Still Struggle Above $20,500

8 hours ago
Ethereum

Decline In Ethereum Futures On CME Suggests Institutional Investors Are Still Bearish

12 hours ago
Ethereum Loses Steam As Exchange Supply Spikes

Ethereum Loses Steam As Exchange Supply Spikes

17 hours ago
Ethereum

TA: Ethereum Key Indicators Suggest A Sharp Drop Below $1K

1 day ago
Bitcoin

TA: Bitcoin is Plunging, But It’s Too Early to Say Bulls Have Given Up

1 day ago

Premium Partners

Top Brokers

PrimeXBT

PrimeXBT

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
7BitCasino

7BitCasino

Review · Visit
BC.Game

BC.Game

Review · Visit
Punt Casino

Punt Casino

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bspin

Bspin

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit
BC.Game

BC.Game

Review · Visit

U Promise Me: The Digital Promise Platform

July 1, 2022

XT.com Lists Land of Fantasy (LOF) With USDT Trading Pair

July 1, 2022

LYOTRADE Launches Crypto Loans—Get USDT and Win Against Volatility

July 1, 2022

Torches Genesis NFT Launching, Win Torchlight NFT to Unlock IDO Allocation

June 30, 2022

Crypto News Flash: Best Meme Coins to Explore in Bear Market 2022 – Floki Inu (FLOKI), Akita Inu (AKITA) and RoboApe (RBA)

June 30, 2022

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.

COMPANY

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

Technical Analysis

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

LINKS

Crypto Prices from Nomics

Cryptocurrency news

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

© 2021 NewsBTC. All Rights Reserved.

  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play Games
  • Bet & Win

© 2021 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.