ETH/USD soared higher on Thursday on the back of newly found momentum and has broken 21-day MA. It is currently trading at 8.19 levels (Kraken).

Ichimoku analysis (Daily chart):

Tenkan-Sen: 7.49

Kijun-Sen: 7.40

Trend reversal: 9.46 (90-EMA)

The MACD is showing a bullish crossover and the RSI (14) is at 53.36 suggesting further upside for the pair. Ether price has broken above major resistances (7 EMA and 21-DMA) with strong volumes.

On the upside, the pair is currently holding above the 8.00 levels and targeting 8.50 levels (trend line joining 14.45 and 12). Any violation of the trend line resistance would target 9.46 (90 EMA).

On the flip side, the pair has taken support near 7.50 levels and any violation would drag it to 7.00 (August 02 low)/ 6.67 (trend line joining 12.30 and 8.67).