TA: Ethereum Bulls Keeps Pushing, Why Rally Isn’t Over Yet

Ethereum started a steady increase and it cleared $3,400 against the US Dollar. ETH price is showing positive signs and it might accelerate further above $3,500. Ethereum started a steady increase above the $3,350 and $3,380 resistance levels. The price is now trading above $3,400 and the 100 hourly simple moving average. There is a key bullish trend line forming with support near $3,425 on the hourly chart of ETH/USD (data feed via Kraken). The pair could accelerate further higher if it clears the $3,480 resistance zone. Ethereum Price Gains Momentum Ethereum formed a base above the $3,250 level and started a steady increase. ETH price was able to clear the $3,350 and $3,380 resistance levels. It even surged above the $3,400 zone and settled well above the 100 hourly simple moving average. A high was formed near $3,477 before there was a downside correction. The price corrected lower below $3,400, but the bulls were active near $3,350. It formed a low near $3,340 and started a fresh increase. Ether traded above the 50% Fib retracement level of the recent decline from the $3,477 swing high to $3,340 low. It is now trading above $3,400 and the 100 hourly simple moving average. There is also a key bullish trend line forming with support near $3,425 on the hourly chart of ETH/USD. The pair is attempting a break above the 76.4% Fib retracement level of the recent decline from the $3,477 swing high to $3,340 low. Source: ETHUSD on ...