Ethereum Technical Analysis: ETH/USD jumps over 5%, as price breaks out above a descending trend line

  • Ethereum was seen up almost 5% on Monday, after starting the session very slow, within negative territory.
  • ETH/USD manages to take a jump back above the $500 mark.
  • Resistance seen around $525, could cause some problems for the bulls attempt to build on momentum.

 

ETH/USD 30-minute chart

 

Spot rate:                    6224.90

Relative change:         – 4.95%

High:                           6611.70

Low:                            6107.90

 

Trend:                         Bullish

 

 

Resistance 1:              525.00, 14th June highs & (support on 60-minute).

Resistance 2:              532.70, supply zone entry.

Resistance 3:              543.90, 12th June high.

Support 1:                   498.29, 50 / 100 MAs.

Support 2:                   495.00, above descending trend line.

Support 3:                   490.88, lower tracking ascending trend line.

 

 

 

 

 

 

 


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