- ETH price found support near the $164-165 area and bounced back against the US Dollar.
- The price broke the $168 and $169 resistance levels, and is currently gathering momentum.
- There is a breakout pattern forming with resistance at $172 on the hourly chart of ETH/USD (data feed via Kraken).
- The pair is likely to break the $172 resistance and climb towards the $176 and $180 resistance levels.
Ethereum price is gaining bullish momentum versus the US Dollar, following bitcoin price rise. ETH is now placed above $169 and it looks set for more gains towards the $180 level.