Technically, the 6-hour chart indicators are rising higher in the bullish territory.
Ether Price Analysis
Yesterday, we discussed that ETH/USD could resume its upward move toward the $215.00 level. The pair found support near $207.00 and did move higher once again. The current market sentiment is positive and it seems like Ether may continue to rise toward the $218.29 high or $220.00.
ETH/BTC started a solid upward move after it broke the key 0.0320BTC resistance. The pair recently traded further higher and cleared the 0.0325BTC and 0.0330BTC resistance levels. The next major hurdle for buyers awaits at 0.0350BTC.
Starting with the 6-hour chart of ETH/USD, the pair gained bullish momentum after it broke a major bearish trendline, with resistance at $203.00. It opened the doors for more gains and the price surpassed the $207.00-207.50 resistance zone.
The price traded as high as $218.29 and later corrected lower. It declined below $210.00, but the previous resistance near $207.00 acted as a solid support. Ether bounced back and traded above the $210.00 and $215.00 levels.
To the upside, an immediate resistance is near the $218.00 level, above which the price will most likely climb above the $220.00 resistance. The main hurdle for the current wave awaits near $225.00 (a major pivot region).
Dropping down to the 30-minute chart of ETH/USD, the pair recently attempted to clear a resistance trendline at $216.40, but buyers failed to gain momentum. On the downside, an initial support is $213.00 and a bullish trendline.
Below the trendline, the next support is around $211.00 (the previous resistance). Largely, Ether’s price is trading in a bullish zone and could continue to move higher toward $220.00 or even $225.00.