Ethereum has now established another ascending price channel as it trades near the upper boundary. It had rebounded from $1300 at the start of the month and pushed higher to reach a new ATH at $1839 this week.
Over the past four days, Ethereum seems to be struggling to penetrate the resistance at $1800 as it couldn’t close a daily candle above it. For this bullish leg to continue, ETH must break $1800 and breach the ascending price channel’s upper boundary at around $1850.
