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Ethereum Technical Analysis: ETH/USD jumps to $480 and it’s eying up $500

  • ETH/USD is trading at $486 after a significant continuation move after the first breakout.
  • Ethereum looks unstoppable and is gaining a lot of market dominance over Bitcoin which is struggling to break $12,000.
Ethereum Technical Analysis: ETH/USD jumps to $480 and it’s eying up $500
Lorenzo StroeLorenzo StroeIndependent Analyst

Ethereum has been the leader in this current bull run, way above BTC, XRP, or any other top crypto. There are very few resistance points on the way to $500 and even $1,000. 

ETH/USD 15-minute chart

ETHUSD

The initial breakout above $447, a new 2020-high had a good amount of continuation on September 1 with Ethereum jumping again towards $470. After a few hours of consolidation, ETH bulls managed to perform another breakout above the last high of $473 and touch $486. 

Support can be found at $475 and $471, the 12-EMA, and the 26-EMA. The $461 low should also serve as a strong support level in the short-term.

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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