Ethereum is consolidating above the $3,800 support zone against the US Dollar. ETH must clear the $3,900 and $3,950 resistance levels to continue higher in the near term. Ethereum started a fresh increase above the $3,800 and $3,820 resistance levels. The price is now trading above $3,800 and the 100 hourly simple moving average. There was a break above a key contracting triangle forming with resistance near $3,820 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a fresh rally if it clears the key $3,900 resistance zone. Ethereum Price Eyes Upside Break Ethereum started a fresh increase above the $3,750 resistance zone. ETH gained pace after it broke the $3,800 resistance zone and the 100 hourly simple moving average. There was also a break above a key contracting triangle forming with resistance near $3,820 on the hourly chart of ETH/USD. The pair even spiked above $3,880, but there was no upside continuation above $3,920. A high was formed near $3,900 and it is now consolidating gains. There was a break below the $3,850 level. Ether price traded below the 23.6% Fib retracement level of the upward move from the $3,742 swing low to $3,900 high. It is now trading above $3,800 and the 100 hourly simple moving average. An immediate resistance on the upside is near the $3,880 level. The next major resistance is near the $3,900 level, above which the price might start a fresh rally. Source: ETHUSD on Trad...
