Ethereum Price Just Reversed and $1,920 is Imminent, Here’s Why

• Ethereum is moving higher above the $1,750 and $1,770 resistance levels.
• The price is trading above $1,770 and the 100-hourly Simple Moving Average.
• There is a major bullish trend line forming with support near $1,735 on the hourly chart of ETH/USD (data feed via Kraken).
• The pair could rise further above the $1,820 and $1,850 resistance levels.

Ethereum Price Jumps 4%

Ethereum’s price formed a support base above the $1,700 level. ETH started a decent increase after Bitcoin rallied above the $27,000 resistance zone. It broke the $1,720 resistance to move into a positive zone.

There was a break above the $1,770 resistance zone. It even spiked above $1,800. A high is formed near $1,826 and the price is now consolidating gains. It is still above the 23.6% Fib retracement level of the recent increase from the $1,715 swing low to the $1,826 high.

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Ether is now trading above $1,770 and the 100-hourly Simple Moving Average. There is also a major bullish trend line forming with support near $1,735 on the hourly chart of ETH/USD.