Ethereum has rallied to a new all-time price high after the second-largest cryptocurrency broke past the pivotal $ 1,400 resistance level and traded to $ 1,475. Former key resistance now becomes support, with daily price closes around the $ 1,440 level now key for further upside in the ETHUSD pair. To the downside, a daily price close below the $ 1,340 level should be considered bearish.
The ETHUSD pair is only bullish while trading above the $ 1,340 level, key resistance is found at the $ 1,440 and the $ 1,475 levels.
If the ETHUSD pair trades below the $ 1,340, sellers may test the $ 1,220 and $ 1,100.00 support levels.