ETH/USD hit a fresh all-time high at 26.99 levels on Monday. It is currently trading at 26.50 levels at press time (Kraken).
Ichimoku analysis of daily chart:
Tenkan Sen: 19.47
Kijun Sen: 17.81
Overall trend is extremely bullish. However, caution is advised as RSI(14) and stochs are in overbought zones.
On the upside, resistance is now seen at 29.74 (113% extension of 5.92 and 26.99) and further strength would target 30.44 (161.8% retracement of 21.48 and 7)/32.73.
On the flipside, support is seen at 22 (23.6% retracement of 5.92 and 26.99) and a break below would drag it to 18.94/16.45. Watch out for a close below 23.75 (4H 5-SMA) for signs of minor weakness in the pair.
