- 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…