ETH/USD broke above the trend line joining 11.63 and 11.19, thereby breaching the 11.00 mark on February 04 and hit a high of 11.46 levels. The pair is showing a slight dip and is currently trading at 11.26 levels (Kraken).

Ichimoku analysis (Daily chart):

Tenkan-Sen: 10.93

Kijun-Sen: 10.31

On the upside, the pair faces immediate resistance at 11.46 levels (February 04 high) and a break above would target 11.63 (January 05 high)/11.95 (78.6% retracement of 11.63 and 9.19).

Momentum studies suggest bullish trend for the pair: RSI(14) is at 67, bias higher; MACD line is above signal line. The pair has broken major trend line resistance as well as 200-DMA and is holding above 5-DMA.

On the flip side, the pair is likely to find support near 10.98 (5-DMA) and any violation would drag it to 10.74 (200-DMA)/10.61 (21-DMA).