š Ethereum Flips Green ā Can Bulls Ride the Momentum to New Highs?
Above $2,550, Ethereum price rose again. ETH may consolidate gains and climb over $2,620.
Ethereum rose again over $2,550.
The price is over $2,580 and the 100-hour SMA.
On the hourly ETH/USD chart, a bullish trend line with support around $2,550 is formed.
If supported over $2,550, the pair may rise again.
Ethereum Price Rises
Ethereum rose beyond $2,560, defeating Bitcoin. ETH price moved over $2,600 barrier and into a bullish zone.
Price tested $2,620 resistance. After hitting $2,627, the price is stabilizing. It remains above the 23.6% Fib retracement line of the $2,515 swing low to $2,627 high upward rise.
Ethereum is over $2,580 and the 100-hour SMA. On the hourly ETH/USD chart, a bullish trend line with support around $2,550 is formed.
Price may find resistance at $2,620 on the upside. Around $2,650 is the next major resistance. Near $2,680 is the first substantial resistance. A clean break over $2,680 might push the price above $2,780.
Above $2,780 barrier might lead to greater advances in the following sessions. Ether may grow to $2,880 or $2,920 in the short future.
Are ETH downsides limited?
Ethereum may fall again if it fails to break $2,620. The downside has first support at $2,570. First big support is between $2,520 and the trend line.
A decisive break below $2,520 might bring the market below $2,450. If losses continue, the price may reach $2,350 support. Next important support is $2,320.
Tech Indicators
Hourly MACD - ETH/USD MACD is losing bullish momentum.
Hourly ETH/USD RSI is over 50.
Major Support: $2,520
Major Resistance: $2,620
