đ„đ„đ„ #EthereumPrice Back Above $2,500: Is a Bigger Move Coming?
Ethereum Price Targets Break Above $2,550 Resistance
Ethereum's price is rising after bouncing off the $2,300 support zone, trading at $2,489 and showing signs of upward momentum. A potential breakout above the $2,550 resistance is in sight.
Key Points:
- Ethereum surpassed $2,350 and $2,420 resistance levels.
- Trading above $2,420 and the 100-hour SMA.
- A bullish trend line offers support at $2,435 (via Kraken).
- Breaking $2,525 and $2,550 could fuel further gains.
Ethereum's Momentum:
- ETH climbed from $2,300, breaking past $2,350 and $2,400. It now sits above the 50% Fibonacci retracement of the recent $2,656 high to $2,310 low. With strong support at $2,435 and resistance at $2,525, clearing $2,550 could push the price toward $2,650 or higher, with $2,720-$2,740 as the next resistance zone.
Possible Downside:
- Failure to break $2,525 may lead to a dip toward $2,450, $2,420, or lower to $2,350. A drop below $2,320 could trigger further declines to $2,250.
Technical Indicators:
- #MACD : Bullish momentum rising.
- RSI: Above 50, indicating positive sentiment.
- Support: $2,420Resistance: $2,525
Source - newsbtc.com
