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Ethereum Ready For Additional Upsides



The price of ETH was able to secure support close to $158 and began a new increase, just like Bitcoin. The crypto is securing momentum and may soon surge over the hurdle at $170.
In the previous day, there was a short-term downside retracement in ETH/USD from the hurdle at $172. The price of ETH moved below the support at $165 and extended the decline to $160.
Nevertheless, the price found well-established support close to $158 and the 100 hourly SMA. There was the formation of a moderate support base close to $158 and in recent times, the price began a new increase.
Further, the price was able to breach the major bearish channel with resistance close to $165 on the hourly chart of ETH against the USD, which was noted in the previous day. Currently, the price is close to $165 zone.
A successful surge over the hurdle at $165 could take the price higher towards $170 and $172. Any additional upside may lead to $180 area. There could be retracement if it strives to surge over the hurdle at $165. The first support is close to $160. The major support is close to $158 and the 100 hourly SMA.
A successful push to under $158 support and the 100 hourly SMA may bring about a swift decline. If it declines, it may visit $150 support zone soon. The general price action is currently positive, pointing to additional gains over $165 and $170.

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