Ethereum Price Technical Analysis – ETH/USD Breakout Pattern

Key Highlights
ETH price is slowly preparing for the next move and placed well above $291.50 against the US Dollar.
There is a major contracting triangle forming with resistance at $301.50 on the hourly chart of ETH/USD (data feed via SimpleFX).
The price has to clear the $301-302 resistance to gain traction in the near term.
Ethereum price is slowly recovering against the US Dollar and Bitcoin. ETH/USD needs to clear the $301-302 area for more gains in the near term.
Ethereum Price Resistance
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