Ethereum is still above the $1,720 support against the US Dollar. ETH must clear $1,820 and $1,850 to start a steady increase in the near term. Ethereum is still above the main $1,720 support zone. The price is now trading below $1,800 and the 100 hourly simple moving average. There is a crucial bearish trend line forming with resistance near $1,800 on the hourly chart of ETH/USD (data feed via Kraken). The pair might start a strong increase if there is a clear move above $1,820 and $1,850. Ethereum Price Tests Key Support Ethereum attempted a fresh increase above the $1,820 resistance zone. However, there was no upside continuation and the price stayed below the $1,850 resistance zone. A high was formed near $1,831 and the price moved lower. There was a break below the $1,800 support zone and the 100 hourly simple moving average. A low is formed near $1,767 and the price stayed above the key $1,750 support zone. Ether is now consolidating above the $1,750 support. It climbed above the 23.6% Fib retracement level of the recent decline from the $1,831 swing high to $1,767 low. On the upside, an initial resistance is near the $1,800 level. There is also a crucial bearish trend line forming with resistance near $1,800 on the hourly chart of ETH/USD. The trend line is close to the 50% Fib retracement level of the recent decline from the $1,831 swing high to $1,767 low. Source: ETHUSD on TradingView.com The next major resistance is...
