Ethereum is continuing its recent technical breakout, with the second-largest cryptocurrency now approaching the $750.00 resistance level. Technical analysis shows that ETHUSD bulls may be targeting the $770.00 level in the short-term, although a rally towards the $800.00 level cannot be discounted. Traders should also note that an extremely large inverted head and shoulders pattern will form if the ETHUSD pair reaches the $770.00 level.
The ETHUSD pair is only bullish while trading above the $670.00 level, key resistance is found at the $770.00 and the $800.00 levels.
If the ETHUSD pair trades below the $670.00, sellers may test the $630.00 and $570.00 support levels.
