Ethereum extended its increase above the $1,720 level against the US Dollar. ETH is now consolidating above the key $1,670 support zone. Ethereum remained in a positive zone but struggled near the $1,785 resistance zone. The price is now trading above $1,650 and the 100 hourly simple moving average. There was a break below a key bullish trend line with support near $1,710 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a downside correction if there is a close below $1,670 and $1,650. Ethereum Price Holds Key Support Ethereum remained in a positive zone above the $1,600 level. ETH even extended its increase above the $1,670 and $1,700 levels. It climbed above the $1,750 but there was no move to $1,800. A high was formed near $1,784 and the price started a downside correction. There was a minor move below the $1,730 and $1,720 levels. Ether declined below the 23.6% Fib retracement level of the upward move from the $1,355 swing low to $1,784 high. Besides, there was a break below a key bullish trend line with support near $1,710 on the hourly chart of ETH/USD. The price is now trading above $1,650 and the 100 hourly simple moving average. It is also consolidating above the 100 hourly simple moving average. An immediate resistance on the upside is near the $1,720 level. The first major resistance is near the $1,750 zone. Source: ETHUSD on TradingView.com The main resistance is now forming near the $1,7...
