Ethereum Rips 8% Higher in Five Minutes as Crypto Bulls Return

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In the past five minutes, Ethereum has surged dramatically higher. According to data from TradingView, the asset is up by approximately 8% in the past five minutes, trading at $269 for the first time in months.

Ethereum price chart from TradingView.com

This extremely strong performance comes minutes after prominent crypto analysts called for a strong breakout as the asset neared $250.

$250 has been a pivotal resistance for Ethereum over the past few years, acting as a range high on multiple occasions. The fact that the asset surged past it with such strength is convincing bulls that a big bull run is imminent.

One trader shared the chart below in the wake of the move, writing that he still thinks the asset will trend higher towards 2019’s $350 highs.

Ethereum price chart from TradingView.com by trader «Cactus» (@TheCryptoCactus on Twitter).
Featured Image from Shutterstock
Price tags: ethusd, ethbtc
Charts from TradingView.com

   

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