Ethereum Price Is Unstoppable and Why Break Above $1,400 Seems Imminent

Ethereum has been steadily moving up above $1,320 against the US Dollar. ETH might gain speed above the $1,350 or $1,400 resistance levels.

  • Ethereum was strong over the $1,265 support area and showed a steady increase.
  • Today, the price traded above $1320. The 100-hourly simple moving average is also up.
  • A major bullish trendline is emerging with support at $1,315 (data feed via Kraken).
  • Bullish momentum could be gained by the pair if it breaks through $1,350.

Ethereum Prices See More Gains

Ethereum reached a $1,260 base and saw a similar increase to that of bitcoin. ETH rose above the $1280 and $1300 levels.

A break was seen above the 50% Fib Retracement level for the key fall from the $13,344 swing high to the $1,262 lower. The Ether price now trades above $1,320 as well as the 100-hourly simple moving average. Above $1,320 it seems that the bulls have control.

The Fib Retracement Level of the Key Drop from $1,344 high to $1,262 lowest is also above 76.4%. A major bullish trendline is also forming, with support close to $1,315 in the hourly chart of Ethereum/USD.

Near the $1,340 area or the swing high will be the first resistance. Near the $1,350 mark is the first significant resistance. The doors to further gains could be opened by a clear upward break of the $1,350 resistance level. The price could rise to the $1,400 resistance in the above scenario.

Ethereum Price

Source:, ETHUSD

Near the $1.400 area is the 1.618 Fib extension value of the key fall from $1,344 swing high and $1,262 lowest. The price could reach the $1500 barrier if it gains more.

What is the Downside to ETH?

The $1,350 resistance could be broken and ethereum may begin to fall again. The trend line and $1,315 are the initial supports for the downside.

Near the $1,300 and 100 hourly simple moving average levels is the next support. A dip below the $1300 level could trigger a further decline to $1260. A move toward the $1,200 support may be possible if there are more losses.

Technical Indicators

Hourly MACDIn the bullish zone, momentum is being gained by MACD for USD/ETH.

Hourly RSIThe RSI of ETH/USD has risen to above 50.

Major Support Level – $1,300

Major Resistance Level – $1,350

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