ETHUSD New High

Ethereum has rallied to a new yearly trading high after the second-largest cryptocurrency broke past the $670.00 resistance barrier. Technical analysis shows that the $770.00 level offers the strongest form of resistance for the ETHUSD pair above the $700.00 level. To the downside, the previous yearly high, around $670.00, is now key former resistance turned key support.

The ETHUSD pair is only bullish while trading above the $630.00 level, key resistance is found at the $730.00 and the $770.00 levels.

If the ETHUSD pair trades below the $630.00, sellers may test the $600.00 and $570.00 support levels.

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Octa (formerly OctaFX) is an international broker that has been providing online trading services worldwide since 2011. It offers commission-free access to financial markets and a variety of services already utilised by clients from 180 countries with more than 40 million trading accounts.

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