TA: Ethereum Price Looks Ready For Another Leg Higher Over $1,500: Here’s Why

Ethereum is showing positive signs above the $1,350 resistance zone against the US Dollar. ETH could gain bullish momentum if there is a clear move above the $1,400 resistance. Ethereum is gaining pace and recently traded above the $1,375 level. The price is now trading above $1,350 and the 100 hourly simple moving average. There was a break above a major bearish trend line with resistance near $1,355 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to rise if there is a clear move above the $1,400 resistance. Ethereum Price Remains Supported Ethereum remained well bid above the $1,300 and $1,310 levels. ETH formed a base above the $1,320 level and started a fresh increase above the $1,3330 level. There was a steady increase above the $1,350 resistance level and the 100 hourly simple moving average. Besides, there was a break above a major bearish trend line with resistance near $1,355 on the hourly chart of ETH/USD. The pair even climbed above the $1,375 resistance zone. A high was formed near $1,385 and the price is now consolidating gains. Ether price is trading above $1,350 and the 100 hourly simple moving average. It is now trading near the 23.6% Fib retracement level of the upward move from the $1,316 swing low to $1,385 high. On the upside, the price is facing resistance near the $1,385 zone. The first major resistance is seen near the $1,400 level. Source: ETHUSD on TradingView.com A clear...