Traders are keeping a close eye on critical support and resistance levels. Immediate support lies at $2,488.31, followed by $2,467.59 and $2,440.64. On the upside, resistance levels are positioned at $2,535.99, $2,562.95, and $2,583.67. A decisive break above these barriers could signal further upward momentum.
### Technical Indicators Paint a Mixed Picture
A deep dive into Ethereum’s technical indicators reveals a predominantly bullish outlook, with 27 out of 29 indicators favoring a positive trajectory. The Relative Strength Index (RSI 14) stands at 52.65, indicating a neutral stance—neither overbought nor oversold. Meanwhile, the 50-day Simple Moving Average (SMA 50) at $2,300.76 suggests Ethereum is currently trading in a bullish zone, though it remains below the 200-day SMA ($2,420.46), which some traders interpret as a longer-term cautionary signal.