Ethereum Price Weekly Forecast: ETH Eyes Fresh Increase Above $340

• ETH price completed a downside correction near the key $275 support area against the US Dollar.
• Bitcoin price is back above the $12,000 level and is signaling a strong bullish momentum.
• There is a key ascending channel in place with support near $310 on the 4-hours chart of ETH/USD (data feed via Kraken).
• The pair is likely to continue higher and it could even surpass the main $340 resistance area.

Ethereum price is slowly moving back in a positive zone against the US Dollar, similar to bitcoin. ETH is likely to accelerate once it clears the $330 and $340 resistance levels.

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