TA: Ethereum Surges 15%, Why ETH Could Climb Above $1,700

Ethereum started a strong increase above the $1,600 level against the US Dollar. ETH is up over 15% and might even clear the $1,700 resistance zone.Ethereum started a major increase above the $1,550 and $1,600 levels.
The price is now trading above $1,600 and the 100 hourly simple moving average.
There was a break above a key bearish trend line with resistance near $1,450 on the hourly chart of ETH/USD (data feed via Kraken).
The pair could continue to rise if there is a clear move above the $1,