Ethereum gained pace and traded to a new all-time high above $4,650 against the US Dollar. ETH corrected gains, but dips could be limited below $4,400. Ethereum gained pace above the $4,550 and $4,600 resistance levels. The price is now trading above $4,500 and the 100 hourly simple moving average. There is a key bullish trend line forming with support near $4,540 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a fresh rally if it clears the $4,620 resistance in the near term. Ethereum Price Remains Supported Ethereum started a fresh increase above the $4,350 and $4,450 resistance levels. ETH gained pace above the $4,500 resistance zone and the 100 hourly simple moving average. The price even climbed above $4,600 and traded to a new all-time high. It traded as high as $4,668 before there was a downside correction. There was a break below the $4,600 level. Ether declined below the 23.6% Fib retracement level of the upward move from the $4,455 swing low to $4,668 high. It is now trading well above $4,500 and the 100 hourly SMA. There is also a key bullish trend line forming with support near $4,540 on the hourly chart of ETH/USD. An immediate resistance on the upside is near the $4,600 level. The next major resistance is near the $4,620 level. A break above the $4,620 level may possibly spark a fresh rally. The next major resistance is near the $4,700 level. Any more gains could lead the price towards...
