June 19 (Cointime) - The price of Ethereum has risen above $1,700 against the US Dollar and could continue to climb if it surpasses the $1,780 resistance zone. Ethereum has broken through the $1,700 and $1,720 resistance levels and is currently trading above $1,700 and the 100-hourly Simple Moving Average.

However, if it fails to clear the $1,780 resistance, it may start to decline again, with initial support at the $1,710 level and major support at the $1,675 level. Technical indicators show that the MACD for ETH/USD is losing momentum in the bullish zone and the RSI for ETH/USD is now below the 50 level.