🔥 Ethereum Heating Up — Can It Break Through $2,650?
Ethereum ($ETH) has found strong support near $2,320 and is now gaining momentum. It's trading above $2,500 and the 100-hour SMA, signaling bullish strength.
🟢 Key Bullish Developments:
ETH bounced from $2,308 and broke above $2,450 and $2,500.
It also cleared a key bearish trendline at $2,530.
Price is now above the 76.4% Fib retracement (from $2,583 to $2,308).
If Ethereum breaks above $2,650, it could rally toward:
$2,720 (next resistance)
$2,780–$2,840 (short-term targets)
🔴 Bearish Scenario — If Rejected at $2,650:
First support: $2,520
Key support: $2,450
Break below $2,450 could send ETH to $2,320 or even $2,250
📊 Technical Indicators:
MACD (Hourly): Gaining strength in the bullish zone
RSI (Hourly): Above 50, supporting upward momentum
📌 Summary:
Ethereum is in a recovery mode. A breakout above $2,650 could open the door to further gains. But failure at this level might trigger another short-term dip.
Support: $2,450
Resistance: $2,650
