Ethereum has back in the $300’s range after briefly trading above $400. The tremendous price action occurred in tandem with Bitcoin’s surge above $12,000. Ripple also stepped above the critical $0.30. On the other hand, ETH/USD ascended to new 2020 highs above $400. A yearly high was traded at $416.48 (on Coinbase) before the devastating plunge occurred.
Ether is currently trading at $373.74 which is marginally above 2019 high at $361. Support at this level is expected to continue to hold as buyers focus on making the bullish case to $400. Resistance is expected at $380 but if broken, gains above $400 are likely to materialize.