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🚀 Ethereum surpasses $2550 — but is a pullback on the cards?
The price of Ethereum has risen from $2375. Ethereum is back above $2550 and is struggling to break through $2620.
Ethereum has risen again above $2550.
The price is above $2550 and the 100-hour moving average.
The hourly chart for the ETH/USD pair shows a short-term contracting triangle with support near $2560.
Ethereum price rise
Like Bitcoin, the price of Ethereum has risen from $2375. The price of Ethereum has moved above the $2500 barrier and entered a bullish zone.
A price above the $2720 barrier could lead to further gains in the upcoming sessions. ETH could rise to $2750 or $2800 in the near future.
Is there another drop in ETH?
Ethereum may drop again if it fails to break the $2615 barrier. Near $2560 is the first descending support. The first notable support is around $2550.
A critical break below $2550 could push the price towards $2520. If losses continue, the price could reach support at $2450. The next support is $2350.
Technical Indicators
Hourly MACD - The MACD for the ETH/USD pair is losing bullish momentum.
Hourly RSI for the ETH/USD pair is above 50.
Major support: $2550
Major resistance: $2615
