Ethereum Flips Green: Can Bulls Ride the Momentum to New Highs? 🚀📈
Ethereum is showing strong bullish signals, climbing back above $2,550 and even surpassing $2,580, comfortably sitting above the 100-hour Simple Moving Average. 💪 There's a key bullish trend line forming on the hourly chart with solid support around $2,550, suggesting more upside is likely if this level holds.
After testing the $2,620 resistance and hitting $2,627, ETH is consolidating gains. It's holding above the 23.6% Fib retracement, indicating underlying strength from the recent rally. If Ethereum can cleanly break the $2,620 barrier, we could see it push towards $2,650, then $2,680. A decisive move past $2,680 could propel the price to $2,780 and potentially even higher, eyeing $2,880 or $2,920 in the near term! 🎯
However, if ETH fails to overcome $2,620, we might see a pullback. Initial support sits at $2,570, with major support around $2,520. A break below this could send prices toward $2,450 or even $2,350. Keep an eye on the Hourly MACD, which is losing some bullish momentum, though the RSI remains above 50.
