TA: Ethereum Smashes Heavy Resistance: Next Bullish Levels Traders Should Watch

Sep 6, 2022 06:00 am Cryptocurrency 160

Ethereum gained bullish momentum for a move above $1,625 against the US Dollar. ETH is now showing positive signs and might soon test the $1,700 zone.

Ethereum is up close to 5% and there was a clear move above the $1,625 resistance.

The price is now trading above $1,600 and the 100 hourly simple moving average.

There is a major bullish trend line forming with support near $1,580 on the hourly chart of ETH/USD (data feed via Kraken).

The pair could continue to rise if it stays above $1,600 or $1,580.

Ethereum Price Beats Bitcoin

Ethereum started a steady increase from the $1,535 support zone. ETH was able to clear the key $1,600 resistance and the 100 hourly simple moving average to move into a positive zone, unlike bitcoin.

The bulls were able to push the price above the $1,625 resistance. It gained nearly 5% and ..

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