ETH surpasses $400 again with a 10% gain, possibly up to $500

ETH is once again surpassing $ 400 today, up more than 10% in 24 hours, hitting $ 429 at short notice. The last time Ethereum hit above $ 400 was a week ago, on August 6, when it hit a high of $ 403.49.

ETH cross $400 2

During the same 24-hour period, BTC increased by 1.60%, and LINK increased by 7.32%.

ETH’s trading volume increased from $ 12,408,772,745 (when the price was $ 391.02) on August 12 to $ 17,784,047,349 (when the price was at $ 429.84) – 10.43% increase in 24 hours. ETH has fallen in part due to a boom in interest and use of DeFi, a trend largely based on Ethereum. The last time ETH hit $ 429 was August 1, 2018.

ETH possibly up to $500

Trader “Crypto Rand” is still expecting ETH to rise further in the short term. He has come up with a chart showing a bullish target of around $ 500, pointing to a potential bullish flag that ETH is forming as a reason why the uptrend is imminent.

As for the ETHBTC trading pair, analyst “Bagy” explains that Ethereum has reached a “decisive point” that will likely determine its medium-term outlook.

The analyst explains that he is expecting a rally of 0.0375 BTC. He also noted that a downward movement here could be significant.

Ethereum is still connected to Bitcoin, so in order for it to see a continuous spike above short-term resistance, BTC must also push higher.

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