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Ethereum started a strong recovery trend against the US dollar around $1,500. ETH gained nearly 8% and it may target the $1,700 resistance level.<a href="https://www.coingabbar.com/en/crypto-currency/ethereum-eth-prices-usd" rel="noopener noreferrer nofollow">Ethereum</a> ranks as the second-largest cryptocurrency by market capitalization. Ethereum, like bitcoin, had a significant drop below the $1,600 support level. But the bulls took control near the $1500 level and reversed above $1600.The bulls seemed to have comfortably defended the $1,500 level. A low was formed near $1,490, and the price started to rise sharply. The price broke through the $1,550 and $1,580 resistance levels. Ether even went through the 50% Fib retracement level of the significant loss from the $1,685 swing high to the $1,490 low.It is currently trading above the $1,600 level as well as the 100 hourly simple moving average. The price even passed the $1,650 level. It is also consolidating at the 76.4% Fib retracement level of the significant loss from the $1,685 swing high to the $1,490 low.The $1,650 level is an immediate upward resistance. On the hourly chart of ETH/USD, a key bearish trend line is forming with resistance near $1,650.According to<a href="https://www.coingabbar.com/en/price-analysis" rel="noopener noreferrer nofollow"> Price Analysis</a>, The market capitalization of this coin is estimated to be $200,028,308,816. The 24-hour trading volume for the same coin is around $17,824,429,735. Ethereum market capitalization has risen by 8.04%. However, trade volume decreased by 18.38% during intraday trading. The market capitalization to volume ratio is 0.08902.The first major resistance is located at the $1680 level. The major hurdle is located between $1700 -$1720 level. Any further rises might push the price up to the $1780 level. Above $1780 ETH may touch $1850 level soon.If ETH fails to break $1650 major resistance, the price may continue to fall below $1600. The next major support level is at $1580 below which the price may accelerate downward. In the aforementioned scenario, the price may fall to $1490 level.KEY LEVELS :RESISTANCE LEVEL : $1680-$1750SUPPORT LEVEL : $1580-$1500Get 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 : Will ETH hold Bullish Momentum As The Final Countdown to the Ethereum Merge?

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