Besides BTC/USD which soared over 8%, the second most traded cryptocurrency pair ETH/USD cracked above the long-held resistance level of $142.

As you can see on the hourly chart, ETH/USD was stuck in an asymmetric triangle pattern which kept Ether in a narrow trading range of $138-$142.

At the time of covering this event, Ethereum has spiked over 10.63% to reach another strong resistance level of $155.56. The next resistance can be found around $161.750. Be very careful with your trading as there’s still no fundamental reason to justify this move.

Stay tuned to FX Leaders for latest updates. Good luck!