Bitcoin shot past $12k and was trading at $12,239 at press time. Crypto Fear and Greed Index stood at 61, indicating growing greed in the market. Bitcoin Dominance rose to 61.75, as Ethereum posted gains and approached a strong level of resistance. Selling pressure did not relent on Tron while Basic Attention Token showed a bullish divergence.
In white is the ascending trendline from March that captures Ethereum’s uptrend since Black Thursday. A rectangle bottom formation is highlighted in cyan.
Ethereum has traded above the rectangle’s midpoint at $360 for the past couple of weeks as it gathered steam to breach the region of resistance at $380.
The RSI was at 58, indicating recent bullish momentum for the asset while the Stochastic RSI was also climbing.
Any dips can expect to find a strong support near $360, while a close above $384 will signal a possible move beyond $400. This could quickly take the asset’s price toward $500.
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