TA: Ethereum Breaking This Confluence Resistance Could Spark a Fresh Surge

Ethereum gained pace above the $2,700 resistance against the US Dollar. ETH price could extend gains if there is a clear move above the $2,800 resistance. Ethereum gained pace above the $2,650 and $2,750 resistance levels. The price is now trading above $2,700 and the 100 hourly simple moving average. There is a key bullish trend line forming with support near $2,640 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to rise if it clears the $2,800 resistance zone. Ethereum Price Remains Supported Ethereum remained formed a base above the $2,650 level and extended increase. ETH was able to clear the $2,750 resistance zone and settled well above the 100 hourly simple moving average. The price even spiked above the $2,800 level and formed a high near the $2,814 level. It is now consolidating gains below the $2,800 level. It tested the $2,750 level and the 23.6% Fib retracement level of the recent increase from the $2,479 swing low to $2,814 high. There is also a key bullish trend line forming with support near $2,640 on the hourly chart of ETH/USD. Overall, ether price is trading in a positive zone above $2,700 and the 100 hourly simple moving average. An immediate resistance on the upside is near the $2,785 level. The first major resistance is near the $2,800 level. A proper close above the $2,800 resistance might push the price further higher. In the stated case, the pair could climb above the $2,85...