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Ethereum continues to rise against the US dollar, reaching $1,600. If there is a clear move above the $1,620 resistance zone, ETH could rally.<a href="https://www.coingabbar.com/en/crypto-currency/ethereum-eth-prices-usd" rel="noopener noreferrer nofollow">Ethereum</a> fell below the $1,550 support level. The bears were effective in driving the price below $1,540 and the 100 hourly simple moving average.According to price analysis, the $1,500 support acted as a major hurdle. The price of ether dropped as low as $1,513 and has just started to rise. The price broke through the $1,550 and $1,560 resistance levels. The price has risen above the 50% Fib retracement level of the recent drop from the $1,620 swing high to the $1,513 low.The price is currently trading over $1,550 as well as the 100 hourly simple moving average. On the hourly chart of ETH/USD, a key ascending channel with support at $1,535 is also building.The pair is now consolidating at the 76.4% Fib retracement of the recent decline from the $1,620 swing high to the $1,513 low. On the upside, an immediate resistance is at $1,620. The next major resistance level is now forming at $1,680.A clear break over $1,620 might indicate the start of a steady rise towards $1,650 resistance. Any more advances might open the door for a move towards the $1,700 resistance in the near term.If ethereum fails to break over the $1,620 resistance, it may fall further. The 100 hourly SMA and the $1,560 zone offer initial support on the downside.The next significant support is between $1,535 and the channel trend line, below which the price of ether may return below $1,500. Any further losses might push the price down to $1,420.KEY LEVELS :RESISTANCE LEVEL : $1620-$1680SUPPORT LEVEL : $1560-$1520Get more crypto related updates on :-<a href="https://www.coingabbar.com/en/crypto-news-english" rel="noopener noreferrer nofollow"> https://www.coingabbar.com/en/crypto-news-english</a>

Cryptocurrency price update: ETHEREUM PRICE ANALYSIS : ETH is nervous due to ahead of Non Farm Payroll data

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