Ethereum Daily Aug 30 Forecast $400 : Ether Climb Continues Taking out Barriers
With no-stop the gain continued on Ethereum price even with the resistances upfront as it is trading at $377 and the momentum is not losing pace.
ETH/USD took momentum as the trading moved over the $375 mark.
A significant bullish flow is forming on the support created at $365 on the hourly chart of Ethereum against the US Dollar.
Even that there could be dips near term, support remains strong at $365-$360.
Ethereum Surge Continues Strong
The Ether token price took the chance of increase with the significant push from Asian Exchanges and with no struggle it is trading over the $375 resistance level – at the moment $377.13 with 6.15 percent gain in the last 24-hours. The buying pressure is acting as a up-ground holder not letting the value decline lower in any dip. The market confidence right now could be taking the price up to $380-$388 but on the other hand correcting at the moment-levels will be a declining indicator.
The channel of supporting line is approx at the 23.6% Fib retracement level since the last flow ($333.00 to $377.13). As the price did pass the first condition of gaining more (flying over the $374 mark) it indicates a strong surging momentum but which could be awaited by the major psychological barrier – $400.
Because of returning selling pressure and quick term profit, many minor tries could occur to reach that specific significant resistance so its unlikely the price will test the $400 on the first try.
Hourly MACD – The MACD is placed very well in the bullish zone.
Hourly RSI – The RSI is slowly correcting lower from the 70 level.