Ethereum Price Analysis: ETH/USD Rans Into Resistance and 100 SMA

Key HighlightsETH price recovered nicely and tested an important resistance near the $198.50 level against the US Dollar.
Yesterday’s highlighted major bearish trend line is intact with resistance at $197 on the hourly chart of ETH/USD (data feed via Kraken).
The pair must break the $197 and $198 resistance levels to trade further higher in the near term.Ethereum price recovered a few points against the US Dollar and bitcoin. However, ETH/USD faced a strong resistance zone near the $198 le