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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

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The Pay Network is expanding to include fiat currencies - is Binance the next big step?

This opens the door to new demand from retailers, which could make the price of Pay coins look better in the long run.

This news seems positive for the market, which has risen by 5% in the last day. This may represent a change in the general mood after Pi2Day turned into a cryptocurrency sell-off event.

The Pay Network has added two new companies certified by the "Know Your Business" (KYB) program to its list, bringing the total to eight companies.

These services make it easier for anyone to enter the market by eliminating the need for cryptocurrency exchanges.

This integration gives the Pay Network much greater legal legitimacy as it meets international anti-money laundering and compliance standards.

This facilitates companies and applications in the real world to start using Pay without having to deal with infrastructure or regulatory issues.

The price of PI coins is still sensitive to short-term speculative trading, given the lack of good use to support long-term growth.

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