ETH managed to win back several points and gain a foothold above $ 360, and around $ 356, on the hourly chart of the pair ETH / USD, the support for the narrowing triangle was formed.
Having reached a minimum at $ 347, the Ethereum rate began to adjust upward. The ETH / USD pair managed to break through resistance of $ 355 and 23.6% of Fibonacci retracement from a maximum of $ 410 to a minimum of $ 348, and then $ 362. Nevertheless, the recovery was limited to resistance at $ 370-371.
At the time of writing, ETH is trading at $ 360, while around $ 356, support for a tapering triangle (the hourly chart of the ETH / USD pair) has been formed. While the Crypto currency is above the support level of the channel, it has chances to break through resistance $ 368 and $ 370. Above $ 370-371 the next obstacle will be the $ 379 mark and a simple moving average for 100 hours.