{"id":434401,"date":"2020-08-13T07:58:20","date_gmt":"2020-08-13T07:58:20","guid":{"rendered":"https:\/\/wncen.com\/?p=434401"},"modified":"2024-06-11T14:15:01","modified_gmt":"2024-06-11T14:15:01","slug":"ethereum-price-regains-bullish-momentum","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum-price-regains-bullish-momentum\/","title":{"rendered":"Ethereum Price Regains Bullish Momentum, But $400 Still A Key Hurdle"},"content":{"rendered":"
Ethereum recovered nicely above the $380 and $390 levels against the US Dollar. ETH price must surpass the $400 barrier for another leg higher in the near term.<\/em><\/p>\n
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Ethereum is up over 5% and it broke the key $380 and $390 resistance levels.<\/li>\n
The price traded close to the $398 level and it settled above the 100 hourly simple moving average.<\/li>\n
There was a break above a major bearish trend line with resistance near $390 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n
The pair could correct a few points, but the previous resistance near $388 might provide support.<\/li>\n<\/ul>\n
Ethereum Price Rallies Over 5%<\/h2>\n
After diving towards the $365 support zone, Ethereum found a strong buying interest against the US Dollar. A swing low was formed near $364 before the price started a fresh increase.<\/p>\n
There was a break above the $375 and $380 resistance levels. There was also a break above a major bearish trend line with resistance near $390 on the hourly chart of ETH\/USD. The pair climbed above the $390 resistance and settled well above the 100 hourly simple moving average<\/a>.<\/p>\n