Crypto Technicals: ETH/USD hits new 10-month highs at 340, eyes 396 (23.6% Fib)

ETH/USD chart - Trading View

Exchange - Coinbase

Support: 316 (5-DMA); Resistance: 396.69 (23.6% Fib)

Technical Analysis: Bias Bullish

Ethereum tracks Bitcoin higher, hits new 10-month highs at 340.

ETH/USD trades over 7% higher at 340.95 at 12.00 GMT, bias is bullish.

The pair extends break into weekly cloud, on track to test 23.6% fib at 396.69.

Technical indicators are sharply higher, Stochs and RSI show momentum is highly bullish.

MACD show a bullish crossover on signal line and DMI shows positive DMI dominance which supports gains.

Break above 23.6% Fib to see further upside. Next major resistance lies at 515 (July 16 high).

5-DMA is immediate support at 316. Break below to see minor weakness.

For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.