Price has today taken out the important previous top by the support and resistance level around 11200. With this a higher low and higher high is in place. Next important resistance level is the Yearly R2 at 1275. Natural price action would see this level hit before a retest of the broken resistance at 11200. A MACD bullish cross is also brewing and likely by tomorrow. ETH/USD is the strongest of the Crypto Majors right now. The Hammer formed on Jan 17 suggests a taking out of the All Time High. This move up could be the start of another bull wave, as we have seen considerable consolidation, well needed from a bulls perspective. Only a daily close below the 11100 level will again shift focus to sideways action.