Breaking: ETH/USD jumps another 5% within minutes hitting $280 on major exchanges

ETH/USD is seeing a ton of follow-through after the initial bull move on July 22.
Ethereum is leading the market while most high-market cap coins are staying flat.

Lorenzo Stroe Independent Analyst

Ethereum was just inches away from breaking above $280 and it's still trading around $278.35 after a violent move.

ETH/USD 1-hour chart

Ethereum bulls managed to defend the 12-EMA even though the RSI has continued to remain overextended. Another leg up has taken Ethereum to $279.67 on Binance and it doesn't look like the buyers are done yet.

Currently, Ethereum is slowing down but is staying above $278. We could see another hourly bull flag before the next leg up.

Author

Lorenzo Stroe

Independent Analyst

Lorenzo is an experienced Technical Analyst and Content Writer who has been working in the cryptocurrency industry since 2012. He also has a passion for trading.

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