- ETH / USD refreshes its 31 month high after breaking the bullish breakout of four month old resistance, now support.
- A bullish MACD, bullish RSI and a sustained breakout of the key resistance line favor the bulls.
- Sellers will have several downward barriers, starting from the monthly support line, to watch out for.
ETH / USD takes offers near $ 713.34 at the start of Monday. In doing so, the Crypto Major maintains an upward break of an ascending trendline from September 1 while probing the highest levels since May 2018.
Given the pair’s trading success above the previous resistance line coupled with a bullish MACD and bullish RSI no overbought, ETH / USD buyers have miles to go.
As a result, the May 2018 peak around $ 829 may attract ETH / USD bulls. However, the round figure of $ 800 may offer an intermediate stop during the north run.
It should be noted, however, that breaking the odds at $ 829 will be called into question by RSI conditions, which if ignored could point to the February 2018 high near $ 982 on the chart.
On the contrary, a downward breakout of the declared support line, a previous resistance, around $ 678, should break the December 17 high of $ 677 and an uptrend line from November 26, at 564. , $ 42 now, before taking back orders.
During the sell of ETH / USD above $ 564, the 100-day SMA level of $ 472.00 will be in the spotlight.
Overall, ETH / USD tracks the surge in cryptocurrencies while looking at the highs of 2018.
ETH / USD daily chart