⚔️ Battle at Resistance — Can Ethereum Bulls Regain Momentum?

Ethereum price rose from $2,470. ETH is finding resistance between $2,650 and $2,660.

Ethereum rose over $2,500 again.

The price is over $2,500 and the 100-hour SMA.

The hourly ETH/USD chart broke below a short-term ascending channel with support around $2,580.

The pair may fall more if it breaks $2,545 support.

Ethereum Price Resistance

Ethereum outperformed Bitcoin in a good rebound from $2,470. ETH price broke $2,500 and $2,540 barrier.

The price crossed the 50% Fib retracement level of the $2,788 swing high to $2,470 low decline. Bears appear below $2,660 resistance. The price is falling below $2,600 again.

ETH/USD's hourly chart broke below a short-term ascending channel with support at $2,580. Ethereum is over $2,540 and the 100-hour SMA.

Price may find resistance at $2,620 on the upside. Around $2,650 is the next major resistance. Near $2,660 is the first substantial resistance. The negative move from the $2,788 swing high to the $2,470 low is around the 61.8% Fib retracement line.

A clean break over $2,660 might push the price above $2,720. Above $2,720 barrier might lead to greater advances in the following sessions. Ether may soar to $2,780 or $2,880 soon.

More ETH losses?
Ethereum may fall again if it fails to break $2,660. Around $2,545 is first downside support. The first substantial donation is about $2,500.

A decisive break below $2,500 might bring the price near $2,470. If losses continue, the price may reach $2,420 support. The next support is $2,350.

Tech Indicators

The negative MACD for ETH/USD is growing.

Hourly RSI: ETH/USD is approaching 50.

Major Support—$2,545

Major Resistance: $2,660

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