ETH\/USD<\/a> bulls made a comeback, sending the price above $344. Since the position at the vital $352 level has been reclaimed by the bulls. The daily chart reveals that the Ethereum (ETH) has been strengthening its bullish case towards $360. The resistance at $356 has been a hard nut to crack but ETH\/USD will need to push the market price above the 9-day and 21-day moving averages.<\/p>\nWhat Is the Next Direction for Ethereum (ETH)?<\/h4>\n
At the time of trading, ETH\/USD is exchanging hands at $353 after surging only 0.26% on the day. The Bitcoin\u2019s immediate upside is capped by the 21-day (MA) in the daily range. The intraday high is now the next resistance target likely to stand in the way of the recovery to $360. Meanwhile, the technical indicator RSI (14) recovers above 50-level could likely hint that Ethereum is now at the edge of a bullish breakout. The support levels of $285, $280, and $270 may come to play if the price remains below the moving averages.<\/p>\n
ETH\/USD is seen penetrating around the 9-day and 21-day moving averages within the ascending channel. More so, the break above these moving averages is the first signal needed for a bullish to press higher. Nevertheless, ETH\/USD has to break above $380 before hitting the potential resistance levels at $415, $420, and 425.<\/p>\n
Against BTC, Ethereum is trading below the 9-day and 21-day moving averages within the channel and the price is now hovering at 3277 SAT as the RSI (14) moves in the same direction above the 44-level. Although the bears remain the dominant of the market, the bulls may need to break the above the 9-day and 21-day moving averages to take charge.<\/p>\n