TA: Ethereum Eyes Key Upside Break, Why Bulls Could Aim Larger Rally

Ethereum was able to clear the $3,800 resistance zone against the US Dollar. However, ETH price failed to gain strength above $3,900 and it is now consolidating gains.

Ethereum started a fresh increase above the $3,750 and $3,800 resistance levels. The price is now trading above $3,800 and the 100 hourly simple moving average. There was a break above a key bearish trend line with resistance near $3,840 on the hourly chart of ETH/USD (data feed via Kraken). The pair could extend its rally if it stays above the $3,800 support zone. Ethereum Price Gains Traction

Ethereum settled above the $3,650 level to move into a positive zone. ETH started a fresh rally above the $3,750 resistance zone and the 100 hourly simple moving average, similar to bitcoin.

The upward move was such that the price cleared the $3,800 resistance. Ether traded as high as $3,968 before there

Keep reading this article on Newsbtc.com.

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