Lorenzo Stroe
Independent Analyst
- ETH/USD is seeing a ton of follow-through after the initial bull move on July 22.
- Ethereum is leading the market while most high-market cap coins are staying flat.
Ethereum was just inches away from breaking above $280 and it's still trading around $278.35 after a violent move.
ETH/USD 1-hour chart
Ethereum bulls managed to defend the 12-EMA even though the RSI has continued to remain overextended. Another leg up has taken Ethereum to $279.67 on Binance and it doesn't look like the buyers are done yet.
Currently, Ethereum is slowing down but is staying above $278. We could see another hourly bull flag before the next leg up.
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