ETHUSD breaking out
Ethereum has rallied to a new multi-year trading high, as the second largest cryptocurrency approaches the $500.00 resistance level. Technical analysis shows that Ethereum may be preparing to rally towards the $550.00, and possibly even the $580.00 resistance level. Overall, the ETHUSD pair has a strong intraday bullish bias while trading above the $445.00 support level.
The ETHUSD pair is only bullish while trading above the $445.00 level, key resistance is found at the $500.00 and the $550.00 levels.
If the ETHUSD pair trades below the $445.00, sellers may test the $415.00 and $395.00 support levels.