Ethereum On The Verge Of A Major Breakout Towards $520

Ethereum price Analysis

Right now, it appears Ethereum bulls are set to have a breakout higher than $483; the value which is at the apex of the ascending parallel channel. The next target is estimated to be about $520 in the short-term, which is the height of the pattern.

This cryptocurrency is faced with only one final critical level of resistance before hitting $520

The current price of Ethereum is about $483; the price is just a little lesser than the upper trendline of the 4-hour chart of the ascending parallel channel. In the past few hours, the MACD has remained bullish and has gained lots of strength.

Right now, as a result of the fact that the trading volume is also on the rise, bulls are waxing stronger, increasing the chances of a successful breakout further.

According to the In/Out section of the Money Around price chart, there seems to be no resistance to be expected. The area of most significance is between $453 and $468. There, however, isn’t any resistance until $555.

Author: Jofor Humani

Jofor is a crypto journalist with passion for investigative reviews.

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