Interestingly, the very Bitcoin dependant market is now recovering and ETH price is also moving independently of the Bitcoin price trend. At the time of writing ETH price is standing at two hundred and nine dollars ($209.74) with a slight correction from the monthly high.
Ethereum price started recovering from the one hundred and seventy-five dollars ($175) range on the 14th of September and has been gradually rising since then. Although there was a slight dip in price on the 16th of September the price kept recovering until today.
Would the Ethereum price hit $400?
Trading firm Excavo shared a chart on their trading view account that reveals that the Ethereum price is in a strong bullish drive and is likely to hit the two hundred and fifty dollars ($250) mark very soon.
The chart further reveals that there are no major resistances for ETH price to hit the two hundred and seventy-nine dollars mark ($279). However, the bumpy road would start after it hits the expect high at that point.
These points also serve as the major resistance points towards the three hundred dollars ($300) mark as per the Excavo chart. However, the major resistance towards the four hundred dollars ($400) mark is at the three hundred and sixty-four dollars ($364) mark on the chart.
Once the major resistance point is achieved, there is no stopping the ETH price to head onto new highs.