Ethereum [ETH] Breaks Several Resistance Levels While Bulls Get Cozy

The crypto market was seen on an uphill journey. Polkadot, Ethereum, Litecoin, and several other crypto coins were seen aiding the ongoing bull run. Over the past, the crypto community was seen rejoicing Ethereum’s multiple trips beyond $400. However, ETH had finally taken things up a notch and pushed past $500. At the time of writing, ETH was trading for $506.62 with a 7.73% surge over the past 24-hours. While several connected the current trend that’s been sprucing up the price of other coins to Bitcoin’s price change, BTC was trading at $18,282.84.

Ethereum [ETH] 1-Hour Price Chart

In the short-term price chart of ETH, the key indicator revealed that ETH would continue its stay in the bullish realm and push its price beyond $506. The daily moving average indicator was seen acknowledging the presence of bulls in the ETH market. The 50 daily moving average [Red] had recently taken the road above the 100 daily moving average [Blue]. This crossover affirmed that ETH was going to dwell in the bullish territory for a longer time.

Ethereum [ETH] With Other Key Indicators

Ethereum [ETH] recently broke past the two most critical resistance levels at $478 and $485 and it seems like the coin was inclined to continuing its journey uphill. The other indicators used in the one-hour chart of ETH were in sync with the ongoing uptrend, as they were seen siding the bulls.

The Bollinger Bands indicator suggested that the ETH market could be subject to a significant change in price. The bands were seen wide apart and were further diverging and this indicated that ETH would possibly be heading towards a possible breakout. The Awesome Oscillator was also exhibiting a positive momentum by forming green closing bars.

With just days left for Etheruem 2.0 aka Serenity where the network would shift from proof-of-work [PoW] to proof-of-stake [PoS], the network’s native coin seems to be prepping the right way for this imminent upgrade.