TA: Ethereum Gearing For Another Lift-Off to $2k: Rally Isn’t Over Yet

Ethereum gained pace above the $1,700 resistance against the US Dollar. ETH is showing positive signs and might even clear the $1,800 resistance. Ethereum started a major increase and settled above the $1,700 level. The price is now trading above $1,700 and the 100 hourly simple moving average. There is a key bullish trend line forming with support near $1,725 on the hourly chart of ETH/USD (data feed via Kraken). The pair must clear $1,780 to continue higher towards $1,880 in the near term. Ethereum Price Uptrend Intact Ethereum remained well bid above the $1,650 level and started a fresh increase. ETH was able to clear the key $1,700 resistance zone and the 100 hourly simple moving average. There was a clear move above the $1,750 resistance zone. A new multi-week high was formed near $1,788 and the pair is now correcting gains. There was a minor decline below the $1,750 level. Ether price declined below the 23.6% Fib retracement level of the recent increase from the $1,620 swing low to $1,788 high. The price is now trading above $1,700 and the 100 hourly simple moving average. There is also a key bullish trend line forming with support near $1,725 on the hourly chart of ETH/USD. Source: ETHUSD on TradingView.com On the upside, the price is facing resistance near the $1,750 level. The next major resistance is near the $1,780 level. A clear break above $1,780 might send the price towards the $1,820 level. Any more gains may pe...