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Ethereum Remains In Uptrend

#1
Yesterday, we discussed the importance of the $162 and $160 support levels for Ethereum against the US Dollar. ETH price remained well bid above the $162 level and slowly climbed above $168.
Moreover, there was a break above the 23.6% Fib retracement level of the downward move from the $179 high to $160 low. The price even surpassed the $168 resistance and the 100 hourly simple moving average.
Finally, it tested the key breakout resistance area near $170. More importantly, yesterday’s major bearish trend line is intact with resistance near $170 on the hourly chart of ETH/USD.
Price

Ethereum Price
The 50% Fib retracement level of the downward move from the $179 high to $160 low is also acting as a hurdle for the bulls. Therefore, a clear break above the trend line and a close above $170 is needed for more upsides in the near term
Once Ethereum settles above the $170 resistance, it could gain bullish momentum. The next key resistance is near the $180 level, above which it could surge towards the $185 resistance level. Any further upsides might lead the price towards $200.
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