Cryptocurrencies continue upward move launched over the weekend with Bitcoin reaching a fresh all-time high above $68,000. Litecoin and Caradono gain around 8% while BitcoinCash and Chainlink trade over 3% higher. Rally was supported by some upbeat fundamental news like Mastercard launching crypto-linked payments cards in Asia. Ethereum has also managed to reach a new record above $4,800 today but has erased almost all of the gains since. Nevertheless, the technical situation on the chart suggests that there is still some room to extend gains.
Taking a look at ETHEREUM on a daily interval, we can see that the coin has been trading in a steep upward move this week. Price broke above highs from May 2021 last week but has pulled back to retest the area later on. An attempt to break back below on Saturday failed and ETHEREUM rallied to new record highs. The next potential resistance to watch can be found at the 127.2% exterior Fibonacci retracement at $5,063. Should the price halt advance and starts to drop, the zone near $4,343 should act as the first support.
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Source: xStation5
