Ethereum price analysis: ETH/USD bulls are using all their might to once again re-challenge and break back above ascending trend line
|- Ethereum is trading up 2% on Friday, continuing to grind higher after receiving support at $600.
- Four-consecutive weeks of gains for Ethereum, bulls are keen to break down $730 resistance.
The Ethereum is holding gains of over 2% on Friday, following the price bouncing of key support at $600 in the prior session. After being rejected by the ascending trend line two sessions ago, the bulls will be looking at re-testing this area.
Like many of the other major cryptos the recovery and shift in trend has been firm over the last four trading weeks. During this 4-week period, the weekly closure has been consecutively within positive territory.
ETH/USD has been struggling with strong resistance that is tracking around $730, in proximity to the ascending trend line. A break above would see $800 and then $1,000 come back into play, the key for this though is a break and close above the mentioned resistance. Support is firm around $600 territory, as proven during the slippage earlier in the trading week.
ETH/USD daily chart
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