Ethereum started a new surge and traded above its all-time high of $ 4,250 against the US Dollar. ETH price is currently showing further bullish signs towards $ 4,500.
Ethereum is rising
Ethereum found support around $ 3,700 and rose to an all-time high around $ 4,280.
The price is trading well above $ 4,200 and the 100 hourly simple moving average.
There was a break above a major contract triangle with resistance near $ 4,045 on the hourly chart of ETH / USD.
The pair is likely to rise towards the $ 4,350 and $ 4,500 levels.
If Ethereum cannot continue rising to $ 4,380, it could initiate another downside correction. The first downside support is located near the $ 4,210 level.
An initial key support is near the $ 4,150 level. Major support is currently forming near the $ 4,000 level. If there is a downside break below the $ 4,000 zone, the price could drop towards the $ 3,700 support.
Technical indicators
Hourly MACD - The MACD for ETH / USD is gaining momentum in the bullish zone.
Hourly RSI - The RSI for ETH / USD is currently well above the 60 level.
Major Support Level - $ 4,150.
Major Resistance Level: $ 4380.
