Ethereum is edging closer to major trendline resistance on Wednesday as short-term bulls continue to retain control of the second largest cryptocurrency. The ETHUSD pair has now broken above the Ichimoku cloud on the four-hour time frame, with the $145.00 level the strongest form of resistance above. If bulls can break above triangle resistance, the overall bullish projection of the pattern would take the ETHUSD pair above the $200.00 level.
The ETHUSD pair is bullish while trading above the $130.00 level, key resistance is found at the $155.00 and $175.00 levels.
If the ETHUSD pair trades below the $130.00 level, key support is found at the $125.00 and $118.00 levels.
