Ethereum Indicators Suggest ETH Could See “Liftoff” To $400 Above $380 | NewsBTC


Ethereum started a steady increase above the $355 resistance against the US Dollar. ETH price tested the $380 resistance and it is currently correcting gains.

  • ETH price started a strong upward move after it clears the $355 resistance against the US Dollar.
  • The price ran into the $380 resistance, but it settled nicely above the 100 simple moving average (4-hours).
  • There was a break above a major bearish trend line with resistance near $354 on the 4-hours chart of ETH/USD (data feed via Kraken).
  • The pair could correct higher, but downsides might be contained near $355 or the 100 SMA (H4).

Ethereum Price Showing Bullish Signs

After a brief struggle, Ethereum managed to clear a couple of major hurdles near $350 and $355 against the US Dollar. ETH price settled above the $355 resistance and the 100 simple moving average (4-hours) to move into a positive zone (similar to bitcoin above $11,000).

How To Get Free Crypto  

More importantly, there was a break above a major bearish trend line with resistance near $354 on the 4-hours chart of ETH/USD. Ether price rallied over $20 and it even broke the $370 resistance.

14 BTC & 95,000 Free Spins for every player, only in mBitcasino’s Exotic Crypto Paradise! Play Now!

It faced a strong resistance near the $380 level (a multi-touch zone). A new monthly high is formed near $379 and the price is currently correcting gains. There was a break below the $375 and $370 level. The first key support is near the $368 level.

Ethereum price rallies above $370. Source: TradingView.com

The 23.6% Fib retracement level of the recent upward move from the $335 swing low to $379 high is also near the $368 level. If there is a downside break below the $368 support zone, ether price is likely to continue lower towards the $355 support.

On the upside, the $380 level is another breakout zone. A clear break above the $380 resistance is likely to clear the path for more gains towards the $395 and $400 resistance levels in the coming sessions.

Coinbase Banner  

Dips Supported in Ether (ETH)?

If Ethereum fails to clear the $380 resistance zone, it might start a downside correction. An initial support for the bulls is near the $368 level.

The main support is now forming near the $355 level (the last breakout zone) and the 100 simple moving average (4-hours). The 50% Fib retracement level of the recent upward move from the $335 swing low to $379 high is also near the $356 level to provide support.

Technical Indicators

4 hours MACD – The MACD for ETH/USD is slowly losing pace in the bullish zone.

4 hours RSI – The RSI for ETH/USD is now well above the 60 level.

Major Support Level – $368

Major Resistance Level – $380

Go to Source
Author: Aayush Jindal


Recommended Crypto Services, Products and Strategies:

The first thing any crypto investor needs is is a reliable and secure Crypto Wallet.  Whether you’re looking for an online wallet, hardware wallet, desktop or mobile wallet, Crypto Renegade provides you with all the Best Crypto Wallets in each category.

Best Crypto Wallets Banner

When you’re ready to buy more crypto, or exchange your coins for others, Crypto Renegade’s list of the Best Crypto Exchanges has you covered.  The Crypto Exchanges recommended here offer everything from simplicity and convenience to advanced trading platforms and profit sharing. 

Best Crypto Exchanges Banner

If you want to learn more about the methods and tools that can be used to find Great Crypto Projects, then be sure to check out Crypto Renegade’s strategy for How To Find The Best Cryptocurrency.

Crypto Strategy Banner

For those people that don’t have any money to invest right now, or just want to understand the technology a bit more, you’ll definitely want to check out Crypto Renegade’s Free Crypto Strategy and start collecting Free Coins today!

Free Crypto Banner

What do you think about cryptocurrency? Do you have any questions about it? Be sure to leave a comment below.

This site uses Akismet to reduce spam. Learn how your comment data is processed.