Ethereum has advanced to a multi-week trading high, as the top altcoins continue to benefit from the rise breakout in Bitcoin. Technical analysis shows that the ETHUSD pair could rally towards the $400.00 level while price holds above the $365.00 level. Traders should note that if BTCUSD continues to hold above $11,100 then ETHUSD has a high probability of rallying.
The ETHUSD pair is only bullish while trading above the $365.00 level, key resistance is found at the $395.00 and the $415.00 levels.
If the ETHUSD pair trades below the $365.00, sellers may test the $355.00 and $350.00 support levels.