ETHEREUM Approaching Critical Resistance Level at $1,174.98

Ethereum has had a nice little rally here, and it was nice to see some movement above the $1,100 level once it broke.

Currently, we're looking up to a level of $1,175 as a determining price point to see what the future might look like. This is a double resistance level which will be tested on the next 4-hr candle. If this price level breaks, I'd assume it should be save to say we will be looking at a new all time high in the not-so distant future.

However, should we reject from this level, we'll be hoping to at least hold the upward trend line support until we can re-test this level.

Currently, the order book is showing HUGE buy and sell walls between the $1,154-1,155 level. It's likely whichever one breaks first will determine order of movement.

All charts are showing the prices just coming down from overbought conditions. In addition, most of the chart stochastic RSI's are crossing over bearish. If I had to make a prediction, I'd say we're going to pull back and test $1,120 before finding rally momentum to see greater upsides.

Hope everyone has a great weekend! Stay tuned....

Happy trading!