Bankr, in a recent update, indicates that Ethereum is maintaining its upward momentum, supported by high trading volumes and a more favorable news environment. Although sudden volatility may arise from macroeconomic events, Bankr believes the overall trend remains intact as long as $2,510 holds.

Ethereum's 3-Day Price Trend Action

Analyzing price action over the past 72 hours, Bankr notes a slight upward trend over three days. ETH started near $2,535, surged to $2,598, and is currently holding around $2,571 — up about +1.5% during this period. The strongest surge occurred on Sunday night when ETH rose $50 in one hour with the highest volume of the week.

Since then, prices have consolidated in a tight range of $2,565–$2,585. On the candle side, higher lows can be seen at $2,506, $2,512, $2,540, and $2,560, indicating buyers are stepping in slightly earlier at each dip.

When considering simple indicators, Bankr notes that the 20-hour moving average is around $2,565, with prices sitting just above this line — a slightly positive sign. The 50-hour moving average is around $2,538 and still shows a steep upward trend, while candles remain above $2,540. In terms of momentum, a quick RSI check indicates ETH reached overbought levels during the $2,598 spike, then fell back to neutral (50–55), setting the stage for another bullish move.

For key levels, Bankr has outlined support at $2,550 (recent pivot level), $2,510 (volume-based support level), and $2,480 (weekly support level). On the resistance side, levels to watch include $2,590–$2,600 (most recent highs) and $2,625 (March high).

Impactful News and Game Plan

While Ethereum surges, the stronger-than-expected U.S. jobs report often acts as a headwind, as it implies that the Fed may hold steady. However, Bankr notes that cryptocurrencies seem to be ignoring it, thanks to a solid risk appetite maintaining momentum despite macro pressures.

Politically, Bankr emphasizes that next week's 'Crypto Week' in the U.S. Congress, combined with the administration's pro-crypto stance, is boosting sentiment. Traders are currently positioning ahead of potential developments, including clearer regulatory direction and discussions around ETH-related ETFs, both of which help boost confidence.

In terms of industry momentum, Bankr points to the continuous accumulation by institutions from players like Metaplanet. Additionally, Bankr mentions the recent USDC burn, reflecting responsible supply management and supporting a more constructive backdrop for Ethereum.

Outlining a flexible approach, Bankr points to the accumulation of dips, placing limit buy orders laddered at $2,555, $2,535, and $2,505 in case of a sudden shift. For breakout trading, if ETH closes an hourly candle above $2,600, consider entering or adding with a short-term target at $2,625–$2,650 and setting a stop loss just below $2,580.

As a protective exit, if ETH drifts below $2,510 with increasing volume, momentum could shift, cutting exposure or using a stop order at $2,495 may help limit withdrawals. For profit-taking, Bankr suggests trimming positions partially at $2,590 and again near $2,625, while leaving one runner in case the bullish phase extends to $2,700.