#s#saEthereum Price Eyes Another Increase
Ethereum price gained pace above the $2,600 level and traded close to the $2,700 resistance zone. ETH traded as high as $2,681 before it started a downside correction.
There was a move below the $2,640 and $2,620 levels. The price declined below the 23.6% Fib retracement level of the upward move from the $2,472 swing low to the $2,681 high, like Bitcoin. However, the bulls were active near the $2,600 zone.
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Ethereum found support at $2,600 and is currently attempting a fresh increase. It is now trading above $2,620 and the 100-hourly Simple Moving Average.
Immediate resistance is near the $2,640 level. There is also a short-term breakout pattern forming with resistance at $2,640 on the hourly chart of ETH/USD. The first major resistance is near the $2,680 level. The next major resistance is near $2,720, above which the price might rise and test the $2,800 resistance.
