ETHUSD $1,420 in focus
Ethereum is testing towards its all-time record high, as the second-largest cryptocurrency continues to build upside momentum above the $1,000 level. Technical analysis highlights that the ETHUSD pair could explode higher if the $1,420 level is breached with conviction. To the downside, a strong pullback from the $1,400 level could cause wide-spread ETHUSD profit taking.
The ETHUSD pair is only bullish while trading above the $1,070 level, key resistance is found at the $1,420 and the $1,500 levels.
If the ETHUSD pair trades below the $1,070, sellers may test the $1,000 and $870 support levels.