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Ethereum has gained positive momentum in expectation of a move above $1,625 against the US dollar. ETH is currently showing signs of growth and may soon test the $1,700 level.From the $1,535 support level, Ethereum started a steady increase. Unlike bitcoin, ETH was able to break over the crucial $1,600 resistance and the 100 hourly simple moving average to reach the positive zone.The bulls were successful in pushing the price above the $1,625 resistance level. It increased by about 5% and tested the $1,675 level. A high was made at $1,675, and a minor downside correction followed. The price has fallen below $1,650.On the<a href="https://www.coingabbar.com/en/crypto-currency/ethereum-eth-prices-usd" rel="noopener noreferrer nofollow"> hourly chart of ETH/USD</a>, a major bullish trend line is forming with support near $1,580. The $1,650 level represents immediate upward resistance. The next major resistance level is presently forming near $1,675.A sharp move above $1,675 might even push the price above the $1,700 resistance level. The next major barrier is located near $1,750. Any further gains may open the door for a move towards the $1,800 resistance in the near term.If ethereum fails to break over the $1,675 resistance level, it may begin a downward trend. Initial support is near $1,620 on the downside.The next major support level is at $1,600. It is close to the 50% Fib retracement level of the recent increase from the $1,535 swing low to the $1,675 high, below which the price of ether may test the trend line. Any further losses could push the price down to the $1,535 zone.KEY LEVELS :RESISTANCE LEVEL : $1720-$1800SUPPORT LEVEL : $1620-$1560Get 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 : Bulls maintain market sentiment ahead of the ETH merger

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