🚀🚀🚀 #EthereumPrice Rises, Striving to Catch Up with #Bitcoin’s Rally
Ethereum's price has gained momentum, breaking above $2,550 and currently consolidating around $2,680. It seems poised for further gains beyond $2,750.
Key Points:
- Ethereum surged past $2,450 and $2,550, peaking at $2,722.The price is trading above $2,550 and the 100-hour Simple Moving Average.
- A bullish trend line with support at $2,550 is forming on the hourly chart.
Potential Scenarios:
- A break above $2,720 could propel Ethereum towards $2,800, with further resistance at $2,865 and possibly $3,000.
- Failure to clear $2,720 might trigger a downside correction, with support at $2,620 and $2,550. A drop below $2,550 could lead to further decline towards $2,450 or $2,320.
Technical Indicators:
- MACD: Gaining momentum in the bullish zone.
- RSI: Above 50, indicating continued bullish strength.
- Major Support: $2,550
- Major Resistance: $2,720
Source - newsbtc.com
