Ethereum is up over 5% and it broke the key $370 and $380 resistance levels against the US Dollar. ETH price could continue to rise towards $400 or $420 as long as it is above $370.

  • ETH price is gaining momentum above the $360 and $370 resistance levels against the US Dollar.
  • The price is now trading nicely above $375 and the 100 simple moving average (4-hours).
  • There is a crucial rising channel forming with support near $350 on the 4-hours chart of ETH/USD (data feed via Kraken).
  • The pair is likely to continue higher towards $400 or $420 as long as the channel support is intact.

Ethereum Price Turns Positive

This past week, Ethereum managed to recover above the $350 resistance to move into a positive zone against the US Dollar. ETH price gained bullish momentum and surpassed the $360 resistance level.

The price gained pace after it broke the 23.6% Fib retracement level of the downward move from the $490 swing high to $310 low. Ether price is now trading nicely above $375 and the 100 simple moving average (4-hours).

It seems like there is a crucial rising channel…



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