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).
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Price tags: ethusd, ethbtc
Charts from TradingView.com