MiningPool
Cryptocurrency

Ethereum price jumps to $465 as bulls eye breakout to $500

Ethereum bounced 4.5% over the past day and trades around $465. Bulls pushing higher could breach a resistance zone at $485, with the next barrier around $530. On the hourly chart, ETH trades inside

By James Gray··1 min read
Ethereum price jumps to $465 as bulls eye breakout to $500

Key Points

  • Ethereum bounced 4.5% over the past day and trades around $465.
  • Bulls pushing higher could breach a resistance zone at $485, with the next barrier around $530.
  • On the hourly chart, ETH trades inside

Ethereum bounced 4.5% over the past day and trades around $465. Bulls pushing higher could breach a resistance zone at $485, with the next barrier around $530.

Advertisement

728×90

On the hourly chart, ETH trades inside an ascending parallel channel with price near the midpoint and support from the 100-hour moving average below. Buyers have failed to clear $485 in recent days.

A break above $485 would put the 100-hour moving average in play as support, with $530 as the next target. Traders will look for consolidation near $500 on the way.

If sellers push price below the channel's midline, the narrative flips. ETH must hold above the 100-hour moving average for bullish momentum to continue. A breakdown there could drive losses to $450, with more substantial support near $440 at the base of the parallel channel.

Bitcoin hit $16,750 and approaches $17,000. Litecoin outperforms other major altcoins with a 15% gain and approaches $80.

MiningPool content is intended for information and educational purposes only and does not constitute financial, investment, or legal advice.

Advertisement

728×90

crypto

Related Stories

Stay informed

Verifiable crypto journalism, delivered to your inbox.

Weekday mornings. No hype. No financial advice. Just what happened and why it matters.

No spam. Unsubscribe anytime. Read our privacy policy.