Ethereum (ETH) is regaining strength, and after reaching a key technical level around $2,480, it’s beginning to show signs of a bullish trend. The market is currently consolidating gains, but if ETH holds above critical support, it could soon test and break resistance at $2,520 — potentially triggering a strong upward move.
🔹 Ethereum Overcomes Barriers, Eyes an Upswing
Following a period of consolidation, Ethereum broke through key resistance levels at $2,450 and $2,480, pushing it into bullish territory. The price even surpassed $2,500 briefly, setting a local high at $2,523.
Currently, ETH is undergoing mild consolidation. It remains above the 23.6% Fibonacci retracement level from the recent upswing between $2,394 and $2,523. Another positive signal is that Ethereum is trading firmly above the 100-hour simple moving average and forming a bullish trendline with support at $2,440.
📈 Next Targets: $2,580 and Beyond
Ethereum is now facing immediate resistance at $2,520. If the bulls manage to break through, further key barriers lie at $2,550 and the strong resistance zone around $2,580.
A clear breakout above $2,580 could open the door to even higher levels, particularly toward the $2,650 area. Should this level be cleared, Ethereum might continue rising toward the $2,720 or even $2,800 mark in the coming sessions.
📉 Possible Correction? Support Lies at $2,440
On the downside, if Ethereum fails to break the $2,520 resistance, a pullback may follow. The first line of support is near $2,480, with a more significant level at $2,460 — which corresponds to the 50% Fibonacci retracement of the recent upward move.
A drop below this could send ETH toward the trendline support at $2,440, and possibly down to the psychological level of $2,400. If that fails too, the next major support could be around $2,350.
📊 Technical Indicators
🔹 MACD (Hourly): Gaining momentum in bullish territory – signals ongoing upward trend.
🔹 RSI (Hourly): Now above 50, indicating buyer dominance.
🔹 Main Support: $2,440
🔹 Key Resistance: $2,520
🔮 Summary: Ethereum is at a pivotal moment, testing its breakout zone. A successful move above $2,520 could ignite a significant rally. However, a failure to overcome resistance might lead to a mild correction. The market is bracing for a decisive move — both bulls and bears are ready to strike.
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