Ethereum Technical Analysis: ETH/USD eying up $300 in the short-term after a convincing breakout

ETH/USD is currently outperforming major cryptos after a notable breakout above $250.
Ethereum also managed to see fast continuation after the initial breakout and peaked at $281.28.

Ethereum is currently in a notable bull run in the short-term after blasting through several daily resistances and getting close to the 2020-high at $288.69.

ETH/USD 1-hour chart

ETHUSD

The run is really healthy even though the initial move happened over one hour only. Bulls got a lot of continuation 12 hours later after defending the 12-EMA. They are still defending the 26-EMA and looking for a bounce above $276.62, the nearest resistance point.

Even Ethereum loses both EMAs, the daily uptrend would remain intact. The most important support level is $268.38.

ETH/USD 4-hour chart

ethusd

Currently, the 4-hour chart has created a bull flag that could trade sideways for quite some time before a clear breakout. EMA’s haven’t caught up to the price just yet.

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