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Ethereum Hesitates But Further Gains Seem Likely Towards $200

Ethereum is trading nicely above the $175 support area against the US Dollar. ETH price is showing a lot of positive signs and it could continue to rise towards $188 and $195.

 ▪ Ethereum corrected lower and tested the main $175 support area.
 ▪ The price is currently rising and trading above the $180 pivot level.
 ▪ There is a major bullish trend line forming with support near $178 on the hourly chart of ETH/USD (data feed via SimpleFX).
 ▪ The pair is likely to accelerate higher once it clears the $185 and $188 resistance levels.

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