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 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
-637345731136138566.png)
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
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.
