Ethereum surged 15% and it traded to a new all-time high near $1,475 against the US Dollar. ETH price is currently correcting lower, but it is likely to remain well bid above $1,350.
Ethereum started a fresh surge above the $1,350 and $1,400 resistance levels.
The price traded as high as $1,476 and it is now well above the 100 hourly simple moving average.
There is a key bullish trend line forming with support near $1,360 on the hourly chart of ETH/USD (data feed via Kraken).
The pair could correct lower, but the bulls are likely to remain active near $1,350 and $1,360.
Ethereum Price is Gaining Bullish Momentum
In the past 3-4 sessions, there was a strong increase in Ethereum above the $1,300 resistance level. ETH outperformed bitcoin and it rallied above the $1,400 resistance level.
There was also a close above the $1,400 level and the 100 hourly simple moving average. Ether gained 15% and it traded to a new all-time high near the $1,476 level. The price is currently correcting lower and trading below the $1,450 level.
5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!
There was a break below the 23.6% Fib retracement level of the recent rally from the $1,299 swing low $1,476 high. An initial support on the downside is near the $1,400 level. There is also is a key bullish trend line forming with support near $1,360 on the hourly chart of ETH/USD.