Ethereum Price Technical Analysis – ETH/USD Burst Above $800

Key Highlights

  • ETH price made a nice upside move and broke the $800 resistance against the US Dollar.
  • There was a break above yesterday’s pointed contracting triangle with resistance at $725 on the hourly chart of ETH/USD (data feed via SimpleFX).
  • The pair is heading higher and it might continue to move higher towards the $850 and $900 levels.

Ethereum price is surging higher against the US Dollar and Bitcoin. ETH/USD might rocket higher and move toward $850-900 in the near term.

Ethereum Price Uptrend

There was a solid bullish trend in place for ETH price above $700 against the US Dollar. The price after correcting lower and completing a consolidation pattern above $700 broke higher. There was a break above a few important resistances such as $700 and $725. Furthermore, there was a break above the 76.4% Fib retracement level of the last decline from the $758 high to $611 low.

The current trend is super bullish above $720 and the 100 hourly simple moving average. During the…

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