Ethereum is consolidating gains above the $1,300 zone against the US Dollar. ETH could gain pace if there is a clear move above the $1,370 zone. Ethereum is showing positive signs above the $1,320 and $1,330 levels. The price is now trading above $1,320 and the 100 hourly simple moving average. There is a key contracting triangle forming with resistance near $1,350 on the hourly chart of ETH/USD (data feed via Kraken). The pair could rally if there is a clear move above $1,350 and $1,370. Ethereum Price Remains Supported Ethereum gained pace after it broke the $1,300 and $1,320 resistance levels. ETH even cleared the $1,350 level and settled above the 100 hourly simple moving average. However, the price failed to clear the $1,370 level. A high was formed near $1,370 before there was a downside correction. There was a move below the $1,350 level. Ether price declined below the 23.6% Fib retracement level of the upward wave from the $1,250 swing zone to $1,370 high. It is now trading above $1,320 and the 100 hourly simple moving average. There is also a key contracting triangle forming with resistance near $1,350 on the hourly chart of ETH/USD. Source: ETHUSD on TradingView.com An immediate resistance on the upside is near the $1,350 level and the triangle trend line. The first major resistance is near the $1,365 and $1,370 levels. The main barrier is still near the $1,400 zone. A clear upside break above the $1,400 resistance z...
