Ethereum price rallied above the $1,700 resistance against the US Dollar. ETH struggled near $1,750 and is currently correcting gains.
Ethereum gained momentum above the $1,660 and $1,670 levels.
The price is trading above $1,700 and the 100-hourly Simple Moving Average.
There was a break above a key bearish trend line with resistance near $1,650 on the hourly chart of ETH/USD (data feed via Kraken).
The pair is now correcting gains from the $1,750 resistance.
Ethereum Price Rally Stalls
Ethereum’s price was able to start a decent increase from the $1,620 zone. ETH formed a base and started a steady increase above the $1,650 resistance, like Bitcoin.
There was a break above a key bearish trend line with resistance near $1,650 on the hourly chart of ETH/USD. The pair climbed higher above the $1,670 and $1,700 resistance levels. However, the bears were active near the $1,750 zone.
A high is formed near $1,747 and the price is now correcting gains. There was a move below the $1,720 leve
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