TA: Ethereum Consolidates Near $1,200: Why ETH Could Climb To $1,320

TA: Ethereum Consolidates Near $1,200: Why ETH Could Climb To $1,320


Ethereum extended its rise above the $1,150 and $1,200 resistance levels against the US Dollar. ETH price is currently consolidating gains and it could rise further towards $1,280.

Ethereum is following a bullish path above the $1,120 and $1,150 resistance levels. The price is now trading above $1,200 and the 100 hourly simple moving average. There is a key rising channel forming with support near $1,180 on the hourly chart of ETH/USD (data feed via Kraken). The pair is likely to continue higher if it remains stable above $1,180 and $1,150. Ethereum Price Rallies 12%

After forming a support base above $1,100, Ethereum started a fresh increase. ETH price broke the $1,120 and $1,150 resistance levels to move further into a positive zone.

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There was also a break above the $1,200 level and a close above the 100 hourly simple moving average. Ether price traded to a new multi-month high near $1,230 and it is currently consolidating

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