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Ethereum price rose freshly at $2,350. ETH is now up more than 35% and consolidates earnings near the $2,500 area.
- Ethereum started a new surge above the $2,350 resistor.
- The price is trading above $2,400, 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 support and supported at $2,480.
- If the two broke the $2,600 resistance level, the couple could continue to rise.
Ethereum price surges and clears $2,500
The price of Ethereum is still supported and started to rise at $2,200, beating Bitcoin. ETH’s pace exceeded the $2,350 resistance zone.
The Bulls were able to push the price to the $2,500 resistance zone. Prices have risen by more than 35%, and have recently surpassed the $2,550 resistance zone. The high price was set up at $2,606, and the current price is consolidating income. From the $2,272 swing to the height of $2,606, the upward moving FIB retracement level is below the 23.6% FIB retracement level.
Ethereum Price is now trading above $2500 and a simple moving average of 100 hours. Additionally, on the hourly chart of ETH/USD, there is a connected bullish trend line that supports $2,480.
On the plus side, the price seems to be facing a $2,550 hurdle. The next key resistance is close to the $2,600 level. The first major resistance is close to the $2,620 level. A clear action on resistors over $2,620 could shift the price to a resistor at $2,650.
A rise in resistance over $2,650 could demand more gains in the upcoming meeting. In the case of statements, Ether may rise toward the $2,720 resistance zone or even $2,780 in the short term.
Are dips restricted?
If Ethereum fails to clear the $2,550 resistor, a new downside correction may begin. The initial support for disadvantages is close to the $2,470 level. The first major support is located near the $2,440 area, while the 50% FIB retracement level dropped from the $2,272 swing to $2,606 high.
A clear move to support below $2,440 could push the price to $2,350 support. In the short term, more losses could shift the price to the support level of $2,270. Next key support is $2,220.
Technical Indicators
Hourly MACD – MACD of ETH/USD is losing momentum in bullish areas.
Hourly RSI – The RSI of ETH/USD is now above the 50 area.
Main support level – $2,440
Main resistance level – $2,550
