ETHUSD Eyeing Break above $400
- ETH price corrected lower this past week towards $255 against the US Dollar, but later it recovered very well.
- There is a crucial bullish trend line with support at $310 forming on the 4-hours chart of ETH/USD (data feed via SimpleFX).
- It looks like the price is about to retest $390 and may even attempt a break above $400.
ETHUSD Eyeing Break
Ethereum price correction was a good thing against the US Dollar and Bitcoin, and now ETH/USD is back in the bullish zone for a break above $400.
In the last weekly analysis, we discussed the possibility of ETH price moving past the $350 level against the US Dollar. It did remain in the bullish zone and moved above $350, but later started a correction. A high was formed at $404 from where a correction phase was initiated. The price moved down sharply and traded lower by roughly $150. It traded below $300 to trade as low as $256 where buyers appeared.
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