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Ethereum and the broader cryptocurrency market have seen mixed price action over the past few days and weeks.<\/strong><\/p>\n Despite the selling pressure it has experienced at $1,200, ETH beat all odds and surged beyond $1,400, recording a new all-time high at $1,423.38.\u00a0 At press time, the coin is trading at $1,345.23, trying to maintain its domain around the $1,400 mark.<\/span><\/p>\n In the last 5-6 sessions, Ethereum started a sharp surge above the $1,200 zone, outperforming Bitcoin. The top altcoin’s price broke a significant barrier near 1,245 USD and 1,250 USD to move further into the bullish area.<\/span><\/p>\n The bulls struggled to maintain the uptrend causing a rally above $1,280 resistance. At the beginning, there was a break above a sharply shrinking triangle with resistance approaching $1,245 on <\/span>ETH\/USD’s hourly chart<\/span>. The price of Ether is now over 10% and is trading well above its 100-hour moving average.<\/span><\/p>\n ETH was previously set to form a maximum at around the $1,346 zone, while the price continued to consolidate gains. An initial support on the downside is near $1315 level. It is approaching the 23.6% Fib correction level of the last wave from $1,215 to $1,346.<\/span><\/p>\n To the upside, $1345 and $1350 levels had initial barriers. A sharp break above the $1,350 level opened the door for a quick advance. In this case, Ether’s price went on to exceed $1400 and $1420, and beyond before its minor correction. Consequently, the next significant resistance is near the $1500 level.<\/span><\/p>\n In a recent tweet, one analyst stated that he closely monitors Ethereum for $1,250 in support before seeing significant short-term growth.<\/span><\/p>\n He noted that a break above this level could result in an all-time test and that the bulls should survive a break below $1170.<\/span><\/p>\nEthereum Price is Surging<\/b><\/h2>\n
Analyst Claims ETH Could Rally Higher\u00a0<\/b><\/h2>\n