Ethereum Price Could Resume Uptrend If It Clears This Barrier

Ethereum remained well bid above the $1,550 zone against the US Dollar. ETH could start a fresh increase if it clears the $1,625 resistance zone.Ethereum is stable and is showing positive signs above the $1,550 support zone.
The price is now trading above $1,560 and the 100 hourly simple moving average.
There is a major contracting triangle forming with resistance near $1,620 on the hourly chart of ETH/USD (data feed via Kraken).
The pair could start a fresh increase if it clears the $1,620 and