Ethereum extended its rally above the $1,800 resistance against the US Dollar. ETH price is currently correcting lower from $1,840, but it might find bids near $1,750.
- Ethereum remained in a positive zone and it pumped above the $1,800 resistance.
- The price is now well above the $1,750 support and the 100 hourly simple moving average.
- There is a major bullish trend line forming with support near $1,720 on the hourly chart of ETH/USD (data feed via Kraken).
- The pair could correct lower, but the bulls are likely to protect $1,750 and $1,720.
Ethereum Price Turns Attractive
Ethereum started a steady increase above the $1,750 resistance, similar to bitcoin. ETH broke the $1,780 and $1,800 resistance levels to move further into a positive zone.
The price even cleared the $1,820 level and settled nicely above the 100 hourly simple moving average. It traded as high as $1,840 before starting a downside correction. There was a break below the $1,820 and $1,800 levels.
