Technically, the 30-minute chart indicators are near the extreme overbought levels.
Ether Price to Continue Rising
The past three sessions were amazing for Ether as ETH/USD jumped higher by more than 25 percent to trade to a new all-time high above $600.00.
More importantly, there was a sharp bounce in ETH/BTC and the pair was able to break the 0.0300BTC resistance. The current upside move is very strong and it seems like the pair might continue rising toward 0.0400BTC.
Looking at the 30-minute chart of ETH/USD, the current price action is super bullish and suggests that the pair will most likely trade above $625.00 in the near term.
During the recent upside move, there was a break above a short-term bearish trendline at $530.00, which ignited a sharp rally toward $580.00. On the downside, there is a connecting bullish trendline forming with support at $528.00-530.00.
Should the price correct lower from the current or higher levels, it could find support around $540.00 or $530.00. Moving on to the 2-hour chart of ETH/USD, it seems like Ether’s price is forming a solid support base above $500.00.
The price is in a major uptrend and it will most likely continue rising. The next stop could be at $650.00 or even $700.00. Any further upsides could open the doors for a push toward the $800.00 level, which is a key extension level.
To sum up, Ether buyers are in full control and both major pairs ETH/USD and ETH/BTC would continue to gain handsomely in the near term.