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Ethereum was able to break over the $1,700 barrier level against the dollar. ETH has struggled to keep over $1,700 and is presently struggling to continue higher.Above the $1,650 resistance zone,<a href="https://www.coingabbar.com/en/crypto-currency/ethereum-eth-prices-usd" rel="noopener noreferrer nofollow"> Ethereum started an upward bounce</a>. ETH has risen over the $1,680 and $1,700 levels, entering into a short-term bullish zone.There was a spike above $1,700 and a closing above the 100 hourly simple moving average. The price of ether has even risen a few points over the 50% Fib retracement level of the crucial slide from the $1,880 swing high to the $1,525 low.However, the bulls were unable to maintain their power above the $1,700 resistance level. It is currently trading below $1,680. On the hourly chart of ETH/USD, ETH also breached a crucial rising channel with support at $1,670.On the upside, an immediate resistance is at $1,700. The first significant resistance is currently forming at $1,720. The next major resistance is at the $1,745 level. It is close to the 61.8% Fib retracement of the crucial slide from the $1,880 swing high to the $1,525 low.A strong break above $1,745 might lead the price towards $1,800 resistance. Any more increases may open the door for a challenge of the $1,850 resistance.If ethereum fails to break over the $1,720 resistance, it may begin a new fall. On the downside, an initial support level is at $1,650.The next significant support is between $1,650 and the 100 hourly simple moving average, below which the price of ether may accelerate lower. In the aforementioned scenario, the price may fall towards $1,600. Any further losses might push the price down to $1,550.KEY LEVELS :RESISTANCE LEVEL : $1720-$1800SUPPORT LEVEL : $1600-$1530Also read more about Ethereum and get regular updates :-<a href="https://www.coingabbar.com/en/crypto-news-english/tag/ethereum" rel="noopener noreferrer nofollow"> https://www.coingabbar.com/en/crypto-news-english/tag/ethereum</a>

Cryptocurrency price update: ETHEREUM PRICE ANALYSIS : According to the pattern, ETH is reversing from the top of the bearish channel line and heading toward $1450.

Cryptocurrency price update: ETHEREUM PRICE ANALYSIS : According to the pattern, ETH is reversing from the top of the bearish channel line and heading toward $1450.

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