• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news today, price & technical analysis
Price & Market
Cap Data from
Nomics Logo
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Gamble +Try
No Result
View All Result
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Gamble +Try
No Result
View All Result
NewsBTC
No Result
View All Result
Price & Market
Cap Data from
Nomics Logo
Home Cryptocurrency news Ethereum

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

Aayush Jindal by Aayush Jindal
7 months ago
in Ethereum, Technical analysis
Reading Time: 2min read
Ethereum
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.

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
TweetShare12
Nexo Logo
BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner? 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

Binance Coin Price

Charted: Binance Coin (BNB) Gains Momentum, Why Dips Are Attractive

35 mins ago
Ethereum

TA: Why Ethereum Close above $1,600 Could Stage A Strong Rally

3 hours ago
Bitcoin

TA: Bitcoin Revisits $50K, Why BTC Could Still Struggle Near $51K

4 hours ago
bitcoin crunch time crypto analyst

Crypto Analyst: It’s Crunch Time For Ongoing Bitcoin Parabola

12 hours ago
Cardano (ADA)

Charted: Cardano (ADA) Holding Crucial Support, Why It Could Surge Again

1 day ago
Ethereum

TA: Ethereum Bears Keep Pushing, Why ETH Could Face Hurdles Near $1,500

1 day ago

Premium Partners

Top Brokers

eToro

eToro

Review · Visit
Evolve Markets

Evolve Markets

Review · Visit
ArbiSmart

ArbiSmart

Review · Visit
PrimeXBT

PrimeXBT

Review · Visit
Moneta Markets

Moneta Markets

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bonusfinder DE

Bonusfinder DE

Review · Visit
Bspin

Bspin

Review · Visit
Wolf Bet

Wolf Bet

Review · Visit

Top Sportsbooks

1xBit

1xBit

Review · Visit

Press Releases

Easyfi Network introduces Staked Derivative Assets Money Markets on Layer 2 DeFi

March 1, 2021

Seascape Network Officially Debuts on Binance Smart Chain

March 1, 2021

What Will Happen to Oil Production and Distribution in 2021, and How Can You Make a Profit on It

February 28, 2021

Newsletter Signup


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

Auto Trading Software ▸

Cryptocurrency news

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

© 2020 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Trade
  • Gamble +

© 2020 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.