Ethereum bounced from the $385 low toward the $408 high, breaking through the critical resistance level at $395. Bulls need to defend that $395 support to maintain their edge. A sustained push above $
Ethereum bounced from the $385 low toward the $408 high, breaking through the critical resistance level at $395. Bulls need to defend that $395 support to maintain their edge. A sustained push above $410 is the next test.
On the technical side, ETH/USD will trade between the $400 support and resistance zone. Fresh buying pressure gives bulls the momentum they need to move higher. The $400 mark creates no major obstacles once breached. A rally would test $425, where meaningful resistance awaits.
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The $400 level carries outsized importance in the near term. It acts as a supply barrier. A decisive break would flip it into support, giving bulls the foundation to attack higher ground. IntoTheBlock's IOMAP metric points in the same direction, showing an uncluttered path to $470 as long as the $400 zone holds.
Price action depends on momentum. If Ethereum records higher daily closes and buying continues, the pair could test $450 and possibly $470. ETH 2.0 draws closer to launch, providing additional incentive for traders to accumulate.
The 4-hour chart presents a bullish setup. The MACD sits in bullish territory, though traders have spotted a hidden bearish divergence underneath. The RSI reads 59.20 and is rolling over from earlier highs.
Should the rally stall, multiple support levels absorb the selling. The 50% Fibonacci retracement of the swing from the $404 peak to the $370 bottom lands at $387. The 38.2% level marks $383. At $381, the 23.6% retracement provides another cushion. Bulls hold the advantage as long as Ethereum stays above $395. A drop below that mark and the short-term thesis unravels.
MiningPool content is intended for information and educational purposes only and does not constitute financial, investment, or legal advice.
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