Ethereum has made a strong move higher on Monday, with the ETHUSD pair making close to double-digit intraday gains after bulls convincingly broke above the $120.00 level. Further upside towards the $150.00 level remains possible as the technical breakout is still gathering momentum. Both the Relative Strength Index and MACD indicators on the four-hour time frame are starting to turn bullish.
The ETHUSD pair is bullish while trading above the $120.00 level, key resistance is found at the $150.00 and $160.00 levels.
If the ETHUSD pair trades below the $120.00 level, key support is found at the $115.00 and $109.00 levels.