Ethereum price is showing positive signs above the $ 355 support against the US Dollar. According to successful analyst Aayush Jindal, ETH price could rise higher if it clears the $ 365 resistance zone.
Ethereum price is slowly rising and is currently trading well above the $ 355 support.
The price is currently testing the $ 365 resistance and is above the 100 hourly simple moving average.
There is a major bullish trend line formed with support near $ 355 on the hourly chart of ETH / USD pair (data feed via Kraken).
The pair is likely to continue to decline below the $ 365 and $ 360 levels, according to the analyst.
Famous analyst: Ethereum price is now trading in an uptrend
Ethereum started a steady rise above the $ 355 support zone and remained in a positive zone. The ETH bears were unable to push the price below the $ 350 support and the 100 hourly simple moving average, which resulted in a positive move. The price climbed above the $ 358 and $ 360 levels. Ether is currently testing $ 365 resistance and showing several positive signs (similar to Bitcoin). If there is a downside correction, the price could find support near the $ 360 level.
The first major support is near the $ 358 level or the 50% Fib retracement level of the recent rise. The main support is still close to the $ 355 level and the 100 hourly simple moving average, according to the analyst. There is also a major bullish trend line formed with support near $ 355 on the hourly chart of ETH / USD. The trendline coincides with the 76.4% Fib retracement level of the recent rise from $ 352 to $ 363.
Here are the levels that Ethereum price can see in the coming sessions.
On the upside, ETH price is facing a major hurdle near the $ 365 level. A successful close above the $ 365 resistance could trigger a sharp rise, according to the analyst. The next target for bulls could be $ 385 or even $ 392, according to the analyst. If Ethereum fails to clear the $ 365 resistance, there could be a new downside fix.
On the downside, there are several key supports around $ 358, $ 355 and the 100 hourly SMA. To push the price into the bearish zone, the bears need a clear break below the $ 355 support and then a follow-up move below the $ 350 support in the near term.
Current outlook of Ethereum price with technical indicators
Hourly MACD: The MACD for ETH / USD is now gaining momentum in the bullish zone.
Hourly RSI: The RSI for ETH / USD is currently rising and well above the 50 level.
Major Support Level: $ 355.
Major Resistance Level: $ 365.
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