This past week, Ethereum price struggled on many occasions to clear the $172 resistance against the US Dollar. However, the recent sharp rise in Bitcoin price above the $7,000 level triggered an upside break.
The ETH/USD pair broke the $172 and $178 resistance levels to move into a positive zone. The upward move was strong since the price even surged above the $190 level and settled well above the 100 simple moving average (4-hours). The bulls pushed the price above the $200 level and a new monthly high was formed near the $206 level.