TA: Ethereum Price Could Rally If It Closes Above This Key Level

Ethereum is showing positive signs above the $1,300 level against the US Dollar. ETH could rally if it clears the $1,330 and $1,350 resistance levels. Ethereum is slowly moving higher and trading above the $1,300 level. The price is now trading above $1,310 and the 100 hourly simple moving average. There is a key bullish trend line forming with support near $1,320 on the hourly chart of ETH/USD (data feed via Kraken). The pair could gain bullish momentum if there is a clear move above the $1,350 resistance. Ethereum Price Remains Supported Ethereum remained well bid above the $1,250 level. There was a minor increase above the $1,280 and $1,288 levels. ETH is showing positive signs above the $1,300 level and the 100 hourly simple moving average. The price climbed above the 50% Fib retracement level of the downward move from the $1,372 swing high to $1,265 swing low. The price even settled above the $1,310 level and the 100 hourly simple moving average. There is also a key bullish trend line forming with support near $1,320 on the hourly chart of ETH/USD. On the upside, the price is facing resistance near the $1,330 zone. It is near the 61.8% Fib retracement level of the downward move from the $1,372 swing high to $1,265 swing low. Source: ETHUSD on TradingView.com A clear break above $1,330 might start a decent increase towards the $1,355 level. If the bulls remain in action, the price could rise towards the $1,375 level. Any m...