- ETH price found support near the $262 level and recently climbed higher against the US Dollar.
- The price is currently testing the $270 resistance and it could continue to rise towards $275.
- There is a connecting bullish trend line forming with support near $268 on the hourly chart of ETH/USD (data feed via Kraken).
- The pair is likely to revisit the main $275 resistance level, above which it could climb sharply.
Ethereum price is slowly climbing towards key resistances versus the US Dollar, but struggling vs bitcoin. ETH price might even clear the $275 resistance if the bulls remain in action.
Ethereum Price Analysis
Recently, Ethereum price corrected lower and tested the $262 support area against the US Dollar. The ETH/USD pair formed a swing low just above $261 and started a fresh increase. It traded above the $265 resistance to move into a positive zone. Moreover, there was a break above the 50% Fib retracement level of the last slide from the $275 high to $261 low.