ETH/USD has broken above the 100-day MA and hit 2-month high of 13.10 levels on Monday (Kraken). This newly found momentum is likely the result of Devcon2, which kicked off today, September 19, in Shanghai. Major developers of Ethereum and representatives from the development community will share their experience and the latest information.

Also, Brian Armstrong, the co-founder and CEO of Coinbase, announced ​that support for Ethereum has been added on Coinbase.

The pair is currently trading at 12.91 levels at the time of writing (Kraken).

Long-term trend: Bullish

Short-term trend: Bullish

Ichimoku analysis of daily chart:

Tenkan Sen: 12.26

Kijun Sen: 11.92

Trend reversal: 11.70 (90 EMA)

“The pair is trading well above 100-day MA and also the previous high of 12.54 levels. A further jump till 15.23 levels (July 22 high) is possible”, FxWirePro said in a statement.

On the upside, the pair is now targeting 15.23 levels (July 22 high) and a break above would see the pair testing 16.31 (113% retracement of 15.23 and 7)/17.48.

On the flipside, support is likely to be found at 12.21 (100-DMA) and any violation would target 11.70 (90 EMA)/ 11.51 (200-DMA).