Ethereum Bullish Despite Recent Chop; What Could Propel it to $1,700

Ethereum is trading in a positive zone over the $1,520 and $1,500 support levels.

The Ethereum price is currently trading above $1,550 and the 100 hourly straightforward moving average.

There is a key bullish pattern line shaping with the help close of $1,560 on the hourly graph of ETH/USD.

The pair could begin another increment on the off chance that it stays over the $1,550 and $1,530 support levels.

Ethereum is now a Trending coin on CoinMarketCap. The live Ethereum price today is $1,564.56 with a 24-hour trading volume of $10,159,751,770 Ethereum is up 1.08% in the last 24 hours. The current CoinMarketCap ranking is #2, with a live market cap of $191,260,703,140 USD. It has a circulating supply of 122,245,857 ETH coins.

ETH price statistics include the price change of Ethereum is $17.24 of 1.10% and 24h low is $1,543.70 and 24h High is $1,584.26 with a 19.59% Market Dominance.

Ethereum attempted to gain strength over the $1,620 resistance and the 100 hourly basic moving average. Notwithstanding, ETH failed to stay stable above $1,620.

A high was shaped at close $1,648 and the price managed gains. There was a dip under the $1,580 level and $1,550. A low is shaped close to $1,535 and the price is presently rising. There was a move over the $1,550 resistance. Ether's price cleared the 23.6% Fib retracement level of the new downfall from the $1,648 swing high to the $1,535 low.

It is presently trading above $1,550 and the 100 hourly straightforward moving normals. There is likewise a key bullish pattern line forming with support close to $1,560 on the hourly chart of ETH/USD.

Immediate resistance to the potential gain is close to the $1,600 level. It is close to the half Fib retracement level of the new decLINE from the $1,648 swing high to the $1,535 low. The next major resistance is now shaping close to the $1,620 level.

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