Lorenzo Stroe
Independent Analyst
- ETH/USD seems unstoppable after beating a $250 resistance level.
- The next resistance point is located at $363, the high of 2019.
Ethereum is clearly leading the crypto space right now after a massive breakout above $250 and $300. ETH bulls managed to crack $288, the 2020-high and were facing practically no resistance until $363. This level was established in June 2019 as the 2019-high and it’s the most crucial resistance point all the way until $800.
ETH/USD weekly chart
-637314546363967322.png)
Because the run to $1,400 was so fast and volatile and the way down also happened in just a few months, neither bulls nor bears were able to establish many clear support and resistance levels. Now, Ethereum is facing almost no resistance until its all-time high again.
The $363 level is the most crucial short-term level to beat followed by $515 and then finally $834.
ETH/USD daily chart
-637314546541937187.png)
Obviously, this rally has a ton of momentum behind it and most indicators are now extremely overextended but won’t necessarily stop the bulls just yet. It’s hard to really pinpoint when Ethereum will slow down.
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