Ethereum is showing positive signs above the $ 455 support against the US Dollar. If there is a clear break above $ 500, the ETH price is likely to rise to $ 500.
Ethereum has gradually climbed above the $ 450 and $ 460 levels. The price is currently trading near the 100 hourly simple moving average at $ 470. According to analyst Aayush Jindal, there is a major bullish trend line formed with support near $ 455 on the hourly chart of ETH / USD (data feed via Kraken). The pair could accelerate higher if there is a proper close above the $ 470 resistance.
Ethereum Price Closing To Boom
Ethereum continued to bid above the $ 450 and $ 455 support levels. ETH price even broke the $ 460 resistance level and settled well above the 100 hourly simple moving average.
However, the price seems to be facing hurdles near the $ 468 and $ 470 levels. There was a rise in ETH around $ 570 and the price is currently consolidating gains. Initial support is near the $ 464 level. More importantly, there is a major bullish trend line formed with support near $ 455 on the hourly chart of the ETH / USD pair.