Ethereum’s price surged by 12% today, reaching a new all-time high (ATH) at $1439. This move came after breaking through key resistance at $1276. While the price slightly retraced to $1400, the current bullish momentum suggests potential for even higher ATHs in the near term.
ETH/USD Short-Term Outlook: Bulls Eye Higher Levels
Support Levels: $1390, $1350, $1275
Resistance Levels: $1473, $1530, $1600
Ethereum’s recent price action broke through a short-term symmetrical triangle pattern, overcoming resistance at the bearish .886 Fibonacci level. The surge past this level allowed ETH to break its previous ATH, with an initial target of $1473 following the breakout. Additional resistances lie at $1530 and $1600, with further bullish continuation possibly reaching $1768.
On the downside, support at $1390 should hold if the price corrects, with lower levels at $1350 and $1275. The rising RSI and a potential bullish crossover in the Stochastic RSI suggest the market has further room to push higher.
Ethereum Sets Fresh 4-Month High Against Bitcoin: Bulls Poised for Further Upside
Ethereum has seen remarkable performance against Bitcoin, breaking through key resistance levels and reaching a fresh 4-month high of 0.0385 BTC. This marks a significant milestone for ETH/BTC, as it surpassed the March 2019 highs and the November 2020 resistance levels.
ETH/BTC Short-Term Outlook: Ethereum Looks to Push Higher
Support Levels: 0.0361 BTC, 0.035 BTC, 0.0337 BTC
Resistance Levels: 0.0385 BTC, 0.0396 BTC, 0.041 BTC
ETH/BTC has broken through significant resistance at 0.035 BTC, pushing past previous highs at 0.0361 BTC. The next resistance is at 0.0396 BTC, followed by 0.041 BTC, and 0.0428 BTC. While the RSI is rising and approaching overbought conditions, there is still room for further bullish momentum to carry the pair higher.
On the downside, support at 0.0361 BTC and 0.035 BTC should hold if there is a correction. Further levels of support lie at 0.0337 BTC and 0.0330 BTC.
