Ethereum Technical Analysis: ETH/USD on the verge of a breakout above a strong trendline
|- ETH/USD is currently inches away from a strong daily trendline formed on June 1.
- Ethereum has regained its daily uptrend and maintains its bullish momentum.
Ethereum price is currently at around $244.6 after a notable pump on July 21. The strongest resistance area is still located above $250, however, long-term metrics are better now for Ethereum.
ETH/USD daily chart
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The most important pattern is the long-term trendline that is keeping Ethereum from a clear breakout above $250. The trendline is approximately located at $246.7. Ethereum would have to see a clear breakout above the trendline and most importantly, climb above $250 and close the day beyond it.
ETH/USD 4-hour chart
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The 4-hour chart clearly indicates that Ethereum is ready for another leg up above $247.08 which would put the digital asset ahead of the daily trendline.
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