Price Analysis of Ethereum: Recovery of ETH / USD is limited to about $ 412-428



Key aspects

  • The ETH price holds the $ 400-402 support area and is currently consolidating against the US dollar.
  • C & # 39; is a bearish trend line in place with resistance to $ 412 on the hourly chart of the Eth / USD (data feed via Kraken).
  • The pair are facing a lot of upside resistance near $ 412, $ 416 and $ 428 for further recoveries.

The price of Ethereum remains lower against the US dollar and bitcoin. The ETH / USD must cancel the resistances from $ 412 and $ 728 to obtain traction in the short term.

Ethereum Price Upside Hurdles

There were heavy losses of less than $ 440 last week in the ETH price compared to the US dollar. The ETH / USD pair was trading below $ 400, but later recovered and began to consolidate in a range. It appears that the price is forming a decent support near the $ 400-402 zone. Recently it has surpassed the 50% Fibra retracement level of the recent slide from $ 420 high to $ 399 low.

However, the price is currently facing strong resistance near $ 412 and the simple 100-hour moving average. There is also a fundamental bearish trend line in place with resistance to $ 412 on the hourly chart of Eth / USD. In addition, the Fibra 61.8% retracement level of the recent slide from $ 420 up to $ 399 is close to $ 412. Therefore, a break and closing above $ 412 is needed for further gains in the near term. Above this, the next major obstacle for a broader recovery is around the $ 428 level. It represents a significant pivotal level and a barrier to a push towards the $ 440 level.

 Price Analysis of Ethereum ETH USD

Looking at the chart, the ETH price is currently attempting a recovery of over $ 410, but faces many hurdles near the levels of $ 412, $ 416 and $ 428. Downward, the $ 402 and $ levels 400 are important supports

MACD timetable – The MACD is slowly moving into the bullish zone.

RSI timetable – The RSI is currently positioned well above level 50 with positive signs.

Major Support Level – $ 402

Major Resistance Level – $ 428


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