Ethereum Fights for a Close Above $400 Resistance

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In Brief
  • ETH/USD is facing resistance at $370 and $455, while ETH/BTC resistance stands at ₿0.035 and ₿0.04.

  • -The short-term trend is showing weakness.

  • -The price is likely correcting in the fourth wave out of a five-wave formation.

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The Ethereum (ETH) price has reached a massive long-term resistance area near $400. While it briefly managed to climb above this level, it has failed to close above it. The shorter-term trend has begun to show weakness, and a retracement seems imminent before the price can resume its upward movement. Long-Term Ethereum Trend The weekly chart for Ethereum shows that while the price has
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Valdrin is a cryptocurrency enthusiast and financial trader. After obtaining a masters degree in Financial Markets at the Barcelona Graduate School of Economics he began working at the Ministry of Economic Development in his native country of Kosovo. In 2019, he decided to focus full-time on cryptocurrencies and trading.

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