Ethereum Technical Analysis: ETH/USD jumps over 5%, as price breaks out above a descending trend line
|- Ethereum was seen up almost 5% on Monday, after starting the session very slow, within negative territory.
- ETH/USD manages to take a jump back above the $500 mark.
- Resistance seen around $525, could cause some problems for the bulls attempt to build on momentum.
ETH/USD 30-minute chart
Spot rate: 6224.90
Relative change: - 4.95%
High: 6611.70
Low: 6107.90
Trend: Bullish
Resistance 1: 525.00, 14th June highs & (support on 60-minute).
Resistance 2: 532.70, supply zone entry.
Resistance 3: 543.90, 12th June high.
Support 1: 498.29, 50 / 100 MAs.
Support 2: 495.00, above descending trend line.
Support 3: 490.88, lower tracking ascending trend line.
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