ETHUSD New high

Ethereum has rallied to a new yearly trading high after the second-largest cryptocurrency broke past the $670.00 resistance barrier. Technical analysis shows that the $770.00 level offers the strongest form of resistance for the ETHUSD pair above the $700.00 level. To the downside, the previous yearly high, around $670.00, is now key former resistance turned key support.

• The ETHUSD pair is only bullish while trading above the $630.00 level, key resistance is found at the $730.00 and the $770.00 levels.

• If the ETHUSD pair trades below the $630.00, sellers may test the $600.00 and $570.00 support levels.