Ethereum is trading 10% higher today and is the top performing cryptocurrency. Taking a look at the H4 interval, we can see that price has broken above the resistance level at $1,335 and trades within a striking distance of the all-time high from 2018 ($1,410 area). According to classic technical analysis, as long as the price remains above the aforementioned $1,335 mark, continuation of an upward move looks to be the base case scenario. Exterior Fibonacci retracements of the latest downward correction can be used to try to determine possible resistance levels. According to this methodology, the first resistance to watch can be found at around $1,460 (127.2% exterior retracement).
Ethereum gains 10% and closes in on an all-time high from 2018 ($1,410 area). Source: xStation5
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