Ethereum preserved its positive bias on Wednesday. Buyers left the 475.000 level yesterday. They drove the coin to the 500.000 hurdle where the EMA200 stopped its rally. They crypto currency spent the night struggling with this barrier. The EMA50 and the EMA100 started to change their course. The EMA200 is still going downwards. MACD is growing in the positive territory. RSI indicator is near overvalued territory, favoring a new move higher. The resistance stands at 500.000, the support is at 475.000.
A bullish continuation through 500.000 should lead to a continued ride, with 525.000 as the first probable bullish target.