Ethereum price is attempting a fresh increase above $1,720 against the US Dollar. ETH could accelerate higher if it clears the $1,750 resistance.

• Ethereum is attempting a fresh increase above the $1,720 level.
• The price is trading above $1,700 and the 100-hourly Simple Moving Average.
• There is a connecting trend line forming with resistance near $1,750 on the hourly chart of ETH/USD (data feed via Kraken).
• The pair could continue to rise if it clears the $1,750 resistance zone.

Ethereum Price Gains Traction

Ethereum’s price settled above the $1,650 level. ETH formed a base above $1,650 and recently started a decent increase above the $1,700 level, like Bitcoin.

There was a move above the $1,720 resistance level and the price tested the $1,750 zone. A high was formed near …