Il price of Ethereum in recent days it has appeared to be unstoppable: the break above $ 1.400 seems imminent as the token is slowly moving above the $ 1.320 level and could gain further ground above the 1.350 and 1.400 resistance levels dollars.
Ethereum remained well supported above the $ 1.265 support zone and started a decent rally - the price is now trading above $ 1.320 and the 100-hour simple moving average and is forming an important trend line. bullish with support near $ 1.315 on the ETH / USD hourly chart.
Should the trend continue in the short term, the pair could gain more bullish momentum if it breaks out of the $ 1.350 resistance zone.
However, immediate resistance to the upside is near the $ 1.340 zone or the last swing high. However, the first key resistance is found near the $ 1.350 level. A clear break to the upside above the $ 1.350 resistance zone could open the door for further gains. If so, the price could rise towards the $ 1.400 resistance.
Of course, if Ethereum fails to break out of the $ 1.350 resistance, a new decline could begin. A first bearish support is found near the $ 1.315 level and trend line. The next major support is near the $ 1.300 level and the 100-hour simple moving average. A break down below the $ 1.300 zone could trigger a new decline towards $ 1.260. Any further losses could open the door to a move towards the $ 1.200 support.