Ethereum (ETH) has shown its ability to rebound after declines, but now faces a technical crossroads that could define its short-term direction. After bouncing from a recent low of $2,470, ETH managed to surpass the $2,500 mark and flirt with $2,540. However, the key challenge lies in its struggle against a decisive resistance in the $2,650 to $2,660 range.

📈 What's happening with the price of Ethereum?

In recent hours, Ethereum outperformed Bitcoin in relative performance, recovering from the lows of $2,470. This rebound broke the 50% Fibonacci retracement level of the downward move ($2,788 to $2,470). But after touching $2,660, the bears have halted the advance and ETH has retraced below $2,600.

Technically, the hourly ETH/USD chart shows a bearish breakout below a short-term ascending channel, with previous support at $2,580. At this moment, the pair maintains a key support at $2,545, while the 100-hour simple moving average is just below $2,550.

🛑 Keys to support and resistance

Main support: $2,545

Additional support: $2,500 and $2,470

Immediate resistance: $2,620

Key resistance: $2,660

Extension resistance: $2,720

If Ethereum manages to strongly break the $2,660 barrier, the price could quickly move towards $2,720 and subsequently to levels close to $2,780 or even $2,880 in upcoming sessions. Conversely, a decisive drop below $2,545 and especially below $2,500 could trigger deeper sales towards $2,470 and even down to $2,420.

📊 Technical indicators in play

MACD (1H): It is turning negative, indicating bearish pressure.

RSI (1H): Approaching 50, suggesting indecision in the market.

💡 Mini investment method

Given the high volatility, traders might apply a staggered approach:

1. Initial purchase in the support zone ($2,545–$2,500) with a small position size (10-20% of what you plan to invest).

2. Add positions only if a bullish breakout above $2,660 is confirmed, targeting $2,720 as the first objective.

3. Suggested Stop-Loss: Below $2,470 to limit losses.

❓ The big question: Will this be the base for a new bullish rally for Ethereum or just a pause before another drop?

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