Published on August 31, 2023 04:43 GMT+00:00edited on August 31, 2023 04:44 GMT+00:00

Ethereum price is correcting gains from the $1,750 resistance against the US Dollar. ETH is trading above the $1,680 support and might start a fresh increase.

• Ethereum started a downside correction below the $1,720 level.
• The price is trading above $1,690 and the 100-hourly Simple Moving Average.
• There is a connecting bearish trend line forming with resistance near $1,705 on the hourly chart of ETH/USD (data feed via Kraken).
• The pair could soon start a fresh increase above $1,720 and $1,750.

Ethereum Price Eyes Fresh Increase

Ethereum’s price started a decent increase above the $1,700 level. ETH climbed toward the $1,750 zone before the bears appeared, like Bitcoin.

A high was formed near $1,747 and the price recently started a downside correction. There was a move below …