Ethereum is currently trading at $2,611.21 on the 1-hour chart, showing a steady 2.78% gain. The price has tested the upper Bollinger Band at $2,622.74, suggesting increased volatility. The RSI stands at 67.18, nearing overbought levels, while the Stochastic RSI is already at 82.32, indicating possible exhaustion of bullish momentum.
The MACD is in positive territory at 6.97, with a widening gap between the MACD and signal lines, reinforcing bullish strength. The price has consistently made higher lows, and the volume has surged, confirming buying interest. However, the price has encountered resistance around $2,620, and a failure to break above this level could trigger short-term selling pressure.
A pullback could target the middle Bollinger Band around $2,568, with a stronger support zone at $2,520. On the upside, a confirmed breakout above $2,620 could open the path toward $2,670, but the overbought conditions suggest caution for new buyers. Momentum favors bulls, but the risk of a short-term correction is rising.
