ETH/USD Daily Chart
An analyst noted that Ethereum is recovering within an ascending parallel channel which might imply the asset may be on its way to $400 citing bullishness while noting that ETH is trading above an area of immense support. However, the resistance between $350 and $360 must come down for gains to $400 to come into the picture.
A technical analyst sees a crucial contracting triangle forming with resistance near $355 on the hourly chart of ETH/USD while noting that the price is trading near a major hurdle at $355 at which it might start a fresh decline. ETH at this juncture may either rally above $355 or it might restart its decline below $350.
IntoTheBlock’s IOMAP Model
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