The main highlights

  • The price of ETH rose, and the main resistance against the US dollar was 385 USD.
  • A new connectivity bullish trendline is formed on the ETH/USD hourly chart (data provided by Kraken) with support at $402.
  • The exchange rate is currently falling, but it may be supported near $402 and $400.

Ethereum prices are comparable to the US dollar and Bitcoin. As long as the price is higher than $400, ETH / USD may continue to rise.

Ethereum Price Support

A decent buying area was formed near the ETH price of USD 370. Prices began to move upwards and traded above the $385 and the $390 resistance levels. Breaking above the $400 level has cleared the way for more gains. It is now housed on a $400 support and a 100-hour moving average

The last wave fluctuates upward and the price even exceeds the $422 level. Before the price started to correct downwards, the high was formed at US$423.83. It moves downwards and falls below the last wave of the 23.6% Fib retracement from a low of $384 to a high of $423. However, there is support above $400. On the ETH/USD hourly chart, there is also a new connection to the bullish trend line forming a support level of $402. The same trend line is close to the last wave of the 50% retracement from the low of $50, from the low of $384 to the high of $423.

 Ethereum Price Technical Analysis ETH USD "width =" 1822 "height =" 926"/> </p>
<p> Therefore, any decline close to the $400 level is still supported. On the upside, prices must rise in the range of 422-423 US dollars. Prices above $423 may shift to $440 in the near term. </p>
<p> <strong> Hours MACD – </strong> MACD now works well in the bullish area </p>
<p> <strong> hours RSI – </strong> relative strength index is much higher than 50 level </p>
<p> <strong> Main support level </strong> – $402 </p>
<p> <strong> Major Resistance Level </strong> – $423 </p>
<p> Graphic courtesy – transaction view, </p>
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