Ethereum price rallied following Bitcoin and tested $1,850 against the US dollar. ETH is correcting gains, but the bulls might remain active near $1,750.
Ethereum started a downside correction from the $1,850 resistance.
The price is trading above $1,750 and the 100-hourly Simple Moving Average.
There is a major bullish trend line forming with support near $1,755 on the hourly chart of ETH/USD (data feed via Kraken).
The pair could start a fresh increase unless there is a clear move below $1,750.
Ethereum Price Remains Supported
Ethereum started a strong increase above the $1,750 resistance. Bitcoin dragged ETH higher toward the $1,850 resistance before the bears appeared.
A high is formed near $1,849 and the price is now correcting gains. It traded below the 23.6% Fib retracement level of the upward move from the $1,659 swing low to the $1,849 high. However, the price is still trading in a positive zone.
Ethereum is now trading above $1,750 and the 100-hourly Simple Moving Average. Th
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