TA: Ethereum is Primed For a Rally And Only 1 Thing is Holding it Back

TA: Ethereum is Primed For a Rally And Only 1 Thing is Holding it Back


Ethereum extended its rally above $3,600 level against the US Dollar. ETH price is consolidating gains and it might surge again if it clears $3,575.

Ethereum started a fresh increase above the $3,550 resistance level. The price is now trading above $3,500 and the 100 hourly simple moving average. There is a short-term bearish trend line forming with resistance near $3,575 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to rise as long as it is above the $3,420 support zone in the near term. Ethereum Price Remains In Uptrend

Ethereum extended its increase above the $3,500 resistance zone. ETH was able to climb above the $3,550 level and the 100 hourly simple moving average.

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