Ethereum Price Forecast: ETH/USD tackles $400 building on weekend stability

  • Ethereum value narrows below a descending channel forming a consistent lower high pattern.
  • ETH/USD shallow retreat from $400 embraces support at $395; other lower support levels are $390 and $385.

Ethereum price brushed shoulders with $400 on Monday after a stable weekend session where the token contained price action above $380. The trading during the Asian session was particularly interesting with Ether rising above the opening value at $390 and testing the $400 critical level as reported in the Crypto Market News article.

At the time of writing, ETH/USD is trading at $395 following a shallow retreat. The price is holding above the moving averages. The 50 SMA is crossing above the 100 SMA to reinforce the presence of the buyers in the market.

Unfortunately, the barrier at $400 cut short the bullish grip that was growing. The reversal is reflected by the RSI as it falls gradually towards the midline. Support is likely to hold at 50 with consolidation taking precedence. The Elliot Wave Oscillator (EWO) is also printing a bearish session as bears flex their muscles.

Support at $395 is weak but key to the bulls because it would give them the balance they need as they stage another attack on $400. If broken, Ethereum will seek refuge at $390, $385 and $380 respectively. The action above $400 is needed by the bulls in order to encourage buyers to watch from the sidelines to join the market.

ETH/USD price chart


Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Cryptos feed

Latest Crypto News

Latest Crypto News & Analysis

Editors’ Picks

ETH eyes $3,000 as network activity explodes and scarcity grows

Ethereum has finally hit a clear new all-time high across all exchanges, and it’s currently under a healthy consolidation period. Over the past week, Ethereum’s dominance over the market increased from 13% to 17%, while Bitcoin lost close to five percentage points. 

More Ethereum News

Ripple is South Korea’s most popular cryptocurrency, but price stays pressured

XRP/USD bounces off intraday low of 0.2647, stays below 21-day SMA for fifth day. As per the latest report from Messari, Bitcoin and Ripple are the most popular cryptocurrencies in South Korea. The research relies on the data from Bithumb, Corbit and Coinone for the fiscal year 2019.

More Ripple News

XLM Price Forecast: Stellar primed for a 10% short-term upswing amid massive network expansion

Stellar had tremendous success in 2021, reaching a high of $0.411 after a massive 230% price explosion. The digital asset has outperformed several other coins, including Bitcoin, and could be poised to rise even higher amid positive metrics shown by the Stellar Development Foundation (SDF).

More XLM News

BTC rally back to $40,000 in jeopardy as Grayscale’s demand diminishes

Bitcoin is trading slightly above $33,000 after plunging from January’s peak near $42,000. Investors, speculators, and analysts believe that the pioneer cryptocurrency can hit price levels beyond $40,000. 

More Bitcoin News


Bitcoin Weekly Forecast: BTC is on track to $100,000 despite the recent correction

After hitting a new all-time high of $41,950, Bitcoin had a major 31% correction down to $28,850. For the most part, this pullback is considered healthy as past price action indicates it’s normal for the flagship cryptocurrency to experience 30-40% corrections during a bull rally.

Read the weekly forecast