The price of ethereum just broke out above a supply area and even testing the level on the intraday chart already.
Things have turned around fast for ethereum price in the past few weeks.
Looking at the daily chart above you can see price spike through the 3400 area resistance yesterday and has continued higher today.
What I like about this move is what happened on the intraday chart though.
Looking at the hourly chart above you see that price spiked through the resistance line and immediately tested it before pushing higher again.
I don't put a ton of wait into the hourly but it is nice to see good price action forming on the shorter time frame as this is a starting point for larger time frame action.
Pretty wild that ETH is only 700 points from the all time highs after being at 1900 roughly a month ago!
