Ethereum extended its rally and traded to a new all-time high at $2,150 against the US Dollar. ETH price is now consolidating gains and it is likely to rally above $2,200.
Ethereum is trading nicely in a bullish zone above the $2,050 support. The price is now well above the $2,100 support and the 100 hourly simple moving average. There is a short-term rising channel forming with support near $2,100 on the hourly chart of ETH/USD (data feed via Kraken). The pair is likely to continue higher above the $2,150 and $2,180 levels in the near term. Ethereum Price Is Gaining Momentum
In the past few sessions, Ethereum remained in a positive zone above the $2,000 support, similar bitcoin. ETH even broke the $2,100 level and traded to a new all-time high near $2,150.
During the increase, there was a break above a key bearish trend line with resistance near $2,060 on the hourly chart of ETH/USD.