ETH/USD surpassed previous high of 210 levels on Tuesday and hit 218 levels. It is currently trading at 207 levels at the time of writing (BTC-e).

Ichimoku analysis (Daily chart):

Tenkan-Sen: 162.53

Kijun-Sen: 146.50

On the upside, the pair now faces resistance at 223 (113% retracement of 210 and 107.06) and a consistent break above would target 237/256 (127.2% extension of 40.12 and 210)/273/300.

Momentum studies appear bullish as RSI and stochs have rolled over to overbought zone and MACD line is above signal line on the daily chart.

On the downside, support is seen at 193 (1h 20-SMA) and a break below would see a dip till171.32 (5-DMA)/130 (20-DMA). Further weakness would drag it to 107.06 (May 27 low).