- Ethereum is trading above $2,565 after breaking key resistance at $2,520, signaling growing bullish strength.
- If the price clears $2,650, ETH could rally toward $2,800.
Ethereum is showing renewed strength after pushing above key resistance levels, signaling a potential breakout if bulls maintain control. The price is currently trading above $2,565 and holding firmly above the 100-hourly Simple Moving Average, which could set the stage for another push higher.
Ethereum Bulls Regain Control Above $2,520
Ethereum (ETH) started a fresh rally after breaking out from a key bearish trend line around $2,520. The move came with solid upward pressure, pushing the price back into bullish territory—mirroring bitcoin’s recent recovery. With ETH now comfortably above $2,550, it has reclaimed crucial ground and is holding above key technical levels.
This upward move was further supported by a break above the 50% Fibonacci retracement of the decline from $2,636 to $2,475. The hourly MACD is strengthening in the bullish zone, while the RSI is holding above 50, reinforcing bullish sentiment in the market.
Key Resistance at $2,650 Could Trigger $2,800 Rally
If bulls can clear the $2,600 resistance level, Ethereum could soon test the $2,620 and $2,650 levels. A clean break above $2,650 might unlock further gains toward $2,720 and possibly $2,800.
These levels correspond to Fibonacci retracement zones, making them critical barriers to watch. A strong breakout would confirm Ethereum’s bullish trend and could attract new buyers aiming for short-term gains.
But Caution Remains: Eyes on $2,520 Support
Despite the upward movement, failure to surpass $2,600 could trigger another short-term correction. Initial support lies at $2,550, but a drop below the $2,520 zone could expose ETH to further declines toward $2,500 or even $2,420. If bearish pressure intensifies, the next critical support sits at $2,350.
Ethereum’s price action signals a growing bullish trend, but traders must monitor the $2,600 and $2,650 resistance levels closely. A decisive breakout could ignite a strong rally toward $2,800. However, a rejection at resistance might cause ETH to revisit lower support zones.
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