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Ethereum price support is $2,500 and new growth has begun. ETH is now rising and may aim to exceed the $2,750 resistance zone.
- Ethereum’s growth exceeded the $2,550 and $2,620 levels.
- Prices trade above $2,540, while the 100-hour simple moving average.
- On the hourly chart of ETH/USD (via Kraken’s feed), there is a bullish trend line formed with supported support, supporting $2,550.
- If the $2,750 resistance is cleared in the short term, the couple will get strength.
Ethereum price gains strength
After Bitcoin trading reached new all-time highs, Ethereum prices started to be good. Eth Bulls are active near the $2,500 area and are priced above the $2,600 resistor.
Over $2,620 and $2,650 levels. The price is even over $2,720. The high price was formed at $2,731 and now the price has consolidated above the 23.6% rise in FIB recycling levels, down from the $2,442 swing to $2,731 high.
Ethereum prices are now trading above $2,675, and so is the simple moving average of 100 hours. On the hourly chart of ETH/USD, there is also a connected bullish trend line forming a $2,550 support.
On the plus side, the price could face resistance at the $2,740 level. The next key resistance is close to the $2,750 level. The first major resistance is close to the $2,800 level. A clear action on resistors over $2,800 could shift the price to a resistor at $2,840.
A rise in resistors above $2,840 could demand more gains in the upcoming meeting. In the case of statements, ether could rise toward the $2,920 resistance zone or even $3,000 in the short term.
Are dips restricted?
If Ethereum fails to clear the $2,750 resistor, a new drop may begin. The initial support for disadvantages is close to $2,675. The first major support is located near the $2,550 region and trend line. It approached a 61.8% FIB retracement level from a swing low of $2,442 to $2,731 high.
A clear move to support below $2,550 could push the price toward support of $2,500. In the near term, more losses could shift the price to the support level of $2,450. The next key supports $2,420.
Technical Indicators
Hourly MACD – MACD of ETH/USD is gaining momentum in bullish regions.
Hourly RSI – The RSI of ETH/USD is now above the 50 area.
Main support level – $2,550
Main resistance level – $2,740
