Technically, the 4-hour chart indicators are moving higher in the bullish territory.
ETH/USD Bullish above $800
The past two sessions were amazing for Ether as the price moved past a couple of important resistance levels such as $760.00 and $860.00 to trade at a new all-time high.
Similarly, there was a sharp upside surge in ETH/BTC. The pair moved above the 0.0580BTC and 0.0600BTC resistance levels and is currently poised to gain further traction.
Looking at the 4-hour chart of ETH/USD, there was a clear break above a major bearish trendline with resistance at $760.00, which helped the pair accelerate above the $800.00 level. The upside move was strong and the pair succeeded in trading to a new all-time high at $880.70.
The pair is currently under a minor correction from $880.70. On the downside, the broken trendline around $760.00 could act as a support along with a bullish trendline bolstering at $780.00 on the same chart.
Moving down to the hourly chart of ETH/USD, the pair climbed above an ascending channel with resistance at $780.00. At present, the pair is consolidating above the $840.00 level and is preparing for the next move.
It seems like Ether will soon resume its uptrend above $850.00 and it could trade above the recent high of $880.70. The next immediate resistance is around $905.00-910.00.
On the downside, ETH/USD remains well supported above the $800.00 and $780.00 levels. Below $780.00, the resistance turned support at $760.00 will serve as a major buy zone in the near term.