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Ethereum Price Analysis: ETH/USD jumps 4% towards $400 in just three hours

  • Ethereum price is currently at $394 after a significant spike towards $400.
  • ETH price was as low as $380 in the past 24 hours.
Ethereum Price Analysis: ETH/USD jumps 4% towards $400 in just three hours
Lorenzo StroeLorenzo StroeIndependent Analyst

After an extended consolidation period, Ethereum bulls are back in full force, especially after some positive comments by Jerome Powell, the U.S. Federal Reserve Chair. 

ETH/USD 1-hour chart

ETHUSD

Ethereum bulls have managed to obliterate five consecutive resistance levels in just three hours and are eying up $400 again. The hourly chart is now in a robust uptrend and the only real resistance is established at $400. 

Ethereum price of $447.5 was the last peak on August 17. A strong breakout above $400 would most likely push ETH above this 2020-high within weeks.

Author

Lorenzo Stroe

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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