Technically, the 4-hour chart indicators are moving higher in the bullish territory.
Ether Price Forms New All-time High
Ether finally broke the $90.00-98.00 consolidation box to the upside against the US Dollar, and rallied to rise above key psychological levels like $98.00 and $100.00.
A new all-time high was formed above $115.00 at $117.29 in ETH/USD. The ETH/BTC pair also gained traction, but less when compared with ETH/USD. There was no new high in ETH/BTC, and it remained below 0.060BTC.
The market was seen trading with a risk-on attitude, while a selling tone behind the USD gathered speed. As a result, there was a solid upside move in Ether price with back to back bullish candles on the hourly chart.
There are two important resistance breaks visible on the chart - $92.00 and $98.00. It opened the doors for a sustained move above $100.00. The price broke all barriers and capitalized on the last bullish move.
ETH/USD traded towards $110.00 in the first leg where it faced tiny offers, consolidating for a couple of hours before started the second leg.
The pair is currently in its second leg, facing resistance just near $118.00. It might result in a minor dip or correction towards $110.00-112.00 before the pair starts a possible third leg, which can end anywhere above $120.00-130.00 mark.
Looking at the 4-hour chart of ETH/USD, there is a clear upside break above $98.00, signaling a new bullish setup for Ether price in the near term.
We can continue to see gains in Ether today as long as the price stays above $110.00-108.00.