Ether’s (ETH) pullback is finding support at the breakout level of $2,550, signaling that every minor dip is being purchased.

If the price turns up from the current level and breaks above $2,750, the ETH/USDT pair could resume its up move. There is resistance at $2,860, but it is likely to be crossed. The pair could then climb to $3,000.

The $2,400 level is the crucial support to watch out for on the downside. A break below it could sink the pair to the 20-day EMA ($2,225). If the price rebounds off the 20-day EMA, the bulls will again try to resume the up move.