Ethereum remained stable above the $3,400 level against the US Dollar. ETH price is rising and eyeing an upside break above the $3,550 resistance zone. Ethereum started a fresh increase after it tested the $3,400 support zone. The price is now trading above $3,500 and the 100 hourly simple moving average. There is a connecting bearish trend line forming with resistance near $3,530 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a steady increase if it clears the trend line and $3,550. Ethereum Price Eyes Upside Break Ethereum extended decline below the $3,440 level. However, ETH bulls again protected a downside break below the $3,400 support. The bulls were also active near the 50% Fib retracement level of the key increase from the $3,215 swing low to $3,580 high. It seems like a double bottom pattern was formed near $3,400 and the price started a fresh increase. There was a move above the $3,500 level and the 100 hourly simple moving average. The price is now facing resistance near the $3,525 level. There is also a connecting bearish trend line forming with resistance near $3,530 on the hourly chart of ETH/USD. The next major resistance is near the $3,580 level. If ether price clears the $3,580 resistance zone, it could start a major increase. Source: ETHUSD on TradingView.com In the stated case, the price could climb above the $3,600 zone. The next major stop for the bulls on the upside may perhap...
