Ethereum Price Sees Fresh Increase as Bulls Eye $1,850

Ethereum's price has been on an upward trajectory, clearing key hurdles and staying above the $1,680 level. The cryptocurrency started a fresh increase after managing to stay above the $1,600 support.

The price gained pace for a move above $1,620 and $1,640, even climbing toward $1,740. A high was formed at $1,731, and the price is now consolidating gains above the 23.6% Fib retracement level of the upward move from the $1,603 swing low to the $1,731 high.

If the bulls remain in action above $1,665, the price could attempt another increase. Immediate resistance is seen near the $1,720 level, with key resistances at $1,740 and $1,780. A clear move above the latter might send the price toward the $1,850 resistance.