Ethereum is trading back above the $1,100 level, with the second-largest cryptocurrency testing back towards multi-year highs. Technical analysis highlights that a bullish triangle pattern breakout has taken place, following a move above the $1,070 resistance level. According to the size of the triangle pattern the ETHUSD pair could be preparing to rally towards the $1,400 level.
The ETHUSD pair is only bullish while trading above the $1,070 level, key resistance is found at the $1,300 and the $1,400 levels.
If the ETHUSD pair trades below the $1,070, sellers may test the $1,000 and $870 support levels.
