Against the US dollar, the price of Ethereum is aiming for a crucial upside break above $1,650. If ETH closes above $1,650 and $1,670, the bullish trend may continue.

  • The $1,650 resistance is being approached by Ethereum as it rises.
  • Over $1,610 and the 100-hour simple moving average, the price is currently trading.
  • On the hourly chart of ETH/USD (data feed via Kraken), a short-term rising channel is forming, with support located close to $1,630.
  • If the price of the pair closes above $1,650 and $1,670, it may continue to rise.

Ethereum Price Eyes Upside Break

Above $1,580, the price of Ethereum established a base and continued to rise. Like Bitcoin, ETH traded above the $1,620 resistance to enter a positive zone.

At $1,650, a significant barrier exists that, if broken, would allow for further price growth. The 100-hour simple moving average and the price of ether are currently trading above $1,610. Additionally, it is above the recent rise from the $1,582 swing low to the $1,644 high, which is represented by the 23.6% Fib retracement line.

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ETH/USD Price Chart – Source: Tradingview

On the hourly chart of ETH/USD, a short-term rising channel is also developing, with support located close to $1,630. The price may encounter resistance near the $1,645 level on the upside. Near the $1,650 mark, there will be the next resistance. If the $1,650 barrier is closed above, the price may go in the direction of the $1,670 resistance.

The price has to stabilize over the $1,670 resistance level to begin a steady climb. The next significant obstacle is close to the $1,750 mark. If the $1,750 mark is reached above, Ethereum may rise toward $1,880.

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