Following a slight dip on Wednesday, ETH/USD is soaring high on a new found momentum. It opened at 18.45 levels on Thursday and hit a new all-time high at 19.81 levels (Kraken). It is currently trading at 19.60 levels at the time of writing.

Ichimoku analysis (4 H chart):

Tenkan-Sen level: $18.06

Kijun-Sen level: $16.60

Trend reversal level - (21 day MA)-$17.60

The pair has broken major resistance at 19.30 and now faces major resistance at 20.22 (1.618 % retracement of 15.18 and 7). Any consistent break above this level will take the pair till 21.27 (1.618% retracement of 19.30 and 16.12)/22.42.

On the downside, 18.45 (7 4H EMA) level is expected to act as a support and any violation below will drag the pair till 18.05 and 16.45 (21 day MA).The minor support is at 18.85 (23.6% retracement of 19.75 and 16.12).

“Ethereum prices are expected to go up further till $20.22/$21 in the short term”, said FxWirePro in a statement.