Ethereum Technical Analysis: ETH/USD eying up $250 again with a lot of bullish momentum

ETH/USD climbed above $240 and it’s looking for more.
The bullish momentum is robust and has taken Ethereum price above both daily EMAs.

Lorenzo Stroe Independent Analyst

Ethereum price is finally above the daily 12-EMA and the 26-EMA which have remained bullish for the past two weeks. Ethereum is currently experiencing a strong breakout to the upside. The lowest price was $235.81 with the peak being at $243.9.

ETH/USD daily chart

A crucial bullish breakout puts Ethereum as the leader again and the most likely coin to see a breakout of its 2020-high. The next resistance level to beat is established at $245.34 followed by $248.98 and of course all the $250 area and above.

ETH/USD 4-hour

The uptrend on the 4-hour chart is really healthy although bulls are expecting to see a small pullback 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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