Lorenzo Stroe
Independent Analyst
- ETH/USD is trading at $486 after a significant continuation move after the first breakout.
- Ethereum looks unstoppable and is gaining a lot of market dominance over Bitcoin which is struggling to break $12,000.
Ethereum has been the leader in this current bull run, way above BTC, XRP, or any other top crypto. There are very few resistance points on the way to $500 and even $1,000.
ETH/USD 15-minute chart
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The initial breakout above $447, a new 2020-high had a good amount of continuation on September 1 with Ethereum jumping again towards $470. After a few hours of consolidation, ETH bulls managed to perform another breakout above the last high of $473 and touch $486.
Support can be found at $475 and $471, the 12-EMA, and the 26-EMA. The $461 low should also serve as a strong support level in the short-term.
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