Technically, the 2-hour chart indicators are gaining momentum in the bullish territory.
Ether Price Analysis
In the weekly analysis, we discussed that ETH/USD is preparing for the next important break either above $203.00 or below $192.00. The pair broke to the upside and surpassed the $203.00 and $210.00 resistance levels.
Similarly, there were bullish moves in ETH/BTC as the pair broke the key 0.0318BTC and 0.0320BTC resistance levels. It opened the doors for more gains and the pair traded above 0.0325BTC. The next resistance awaits at 0.0330BTC, followed by 0.0334BTC.
Looking at the 2-hour chart of ETH/USD, there was a solid bullish wave initiated from the $192.69 low. The pair followed an ascending channel and broke the $200.00 and $203.00 resistance levels. Later, buyers gained momentum, resulting in a break above the channel resistance at $207.00.
Ether rallied above the $210.00 resistance and traded to a new monthly high at $218.29. Later, the price corrected below the $210.00 level and traded toward the $208.00 level plus the broken channel trendline.
The price found support near the $208.00 level and is currently trading with a bullish angle above the $210.00 level. The 30-minute chart of ETH/USD suggests that the pair recently broke a bearish trendline at $209.00 to resume its upward move.
An immediate resistance is near the $213.00 level, above which Ether’s price could test the $215.00 resistance. Should there be an upside break above $215.00, the price could trade to a new monthly high above $218.29.
To sum up, Ether moved into a bullish zone, and it seems like the price could continue to grind higher toward $215.00 and $220.00 in the coming sessions.