Ethereum could continue to rise as it closes above its resistance level of $1,700
The price of Ethereum rose by 11.19% on Tuesday, surpassing the resistance level of $1,700. At the time of writing on Wednesday, it continues to trade higher around $1,780.
If ETH continues its upward trend, it could extend the rally to retest its next daily resistance at $1,861.
The RSI on the daily chart stands at 54, above its neutral level of 50, indicating bullish momentum.
However, if ETH experiences a correction, it could extend its losses and retest its daily support level at $1,449.
