TA: Ethereum Breaks Key Hurdle, Why ETH Could Extend Its Increase

TA: Ethereum Breaks Key Hurdle, Why ETH Could Extend Its Increase


Ethereum gained traction and broke the $3,400 resistance zone against the US Dollar. ETH price is showing positive signs and it could even surpass the $3,500 level.

Ethereum started a decent increase above the $3,350 and $3,400 resistance levels. The price is now trading above $3,400 and the 100 hourly simple moving average. There was a break above a crucial bearish trend line with resistance near $3,360 on the hourly chart of ETH/USD (data feed via Kraken). The pair is now consolidating gains and it could even surpass the $3,500 level in the near term. Ethereum Price is Eyeing More Gains

Ethereum formed a base above the $3,200 level and started a fresh increase. ETH was able to clear the $3,350 resistance level and the 100 hourly simple moving average.

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There was also a break above a crucial bearish trend line with resistance near $3,360 on the hourly chart of ETH/USD. It opened the doors for a

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