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Here’s Ethereum Bears Last Defense, Can Bulls Overcome This Hurdle?

Ethereum is up 2% and it broke the $175 resistance, while bitcoin rallied 5%. ETH price is now facing a strong resistance near the $178 and $180 levels.

 ▪ There was a steady rise in Ethereum above the $170 and $175 levels against the US Dollar.
 ▪ The price revisited the key $178 resistance area, where the bears took a stand.
 ▪ There is a major ascending channel forming with support near $173 on the hourly chart of ETH/USD (data feed via Kraken).
 ▪ The pair could rally significantly once there is a close above the $178 and $180 levels.