Ken Chigbo
Independent Analyst
- Ethereum trading with chunky gains of 10% in the second half of Wednesday.
- ETH/USD bulls are making solid progress, as the price head towards a large barrier, noted at $400, which if broken can invite a stronger wave of buying.
- The current price behavior is showing similarities to the 2017 bull run.
Spot rate: 347.54
Relative change: +10.86%
High: 349.46
Low: 249.63
ETH/USD 60-minute chart
- Price action broke out from a bullish pennant formation as seen via the 60-minute chart view, helping drive ETH further north.
ETH/USD weekly chart
- Bulls are heading towards a critical barrier, $400, which if broken could open up the door the a large wave of buying pressure.
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