*Ethereum Price Breaks $2,600: Is More Upside Ahead?*
Ethereum price started a fresh upward move above the $2,500 resistance. ETH is now gaining pace above $2,600 and might continue to rise.
đčEthereum started another increase from the $2,400 resistance.
đčThe price is trading above $2,550 and the 100-hourly Simple Moving Average.
đčThere is a key bullish trend line forming with support at $2,550 on the hourly chart of ETH/USD
The pair must clear the $2,650 resistance to continue higher in the near term.
Ethereum price remained well-supported and extended its increase, beating Bitcoin.
ETH was able to clear the $2,450 and $2,500 resistance levels.
The bulls even pushed the price above the $2,500 resistance.
Recently, it was able to surpass the 76.4% Fib retracement level of the downward correction from the $2,633 swing high to the $2,528 low.
The price is now showing positive signs and trading above the recent swing high of $2,633.
Ethereum price is now trading above $2,635 and the 100-hourly Simple Moving Average.
There is also a key bullish trend line forming with support at $2,550 on the hourly chart of ETH/USD.
On the upside, the price seems to be facing hurdles near the $2,650 level or the 1.236 Fib extension level of the downward correction from the $2,633 swing high to the $2,528 low.
