Ethereum’s Price Prepares to Clear $2,650 and Rally Towards $2,750 Resistance Zone

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Ethereum’s price is consolidating above the $2,580 resistance, with potential for further gains if it clears the $2,650 resistance zone.

Currently, Ethereum is maintaining a positive trajectory above the $2,550 and $2,580 resistance levels. The price is trading above $2,600 and the 100-hourly Simple Moving Average. A key bullish trend line is forming with support near $2,600 on the hourly chart of ETH/USD. The pair may continue its upward movement if it overcomes the $2,650 and $2,680 resistance levels.


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After holding stable above the $2,550 pivot level, Ethereum corrected some gains and tested the $2,550 support level. It recently began a fresh surge above the $2,580 and $2,600 resistance levels. The upward move saw Ethereum surpass the 50% Fibonacci retracement level of the downward move from the $2,685 swing high to the $2,538 low, pushing the price above the $2,620 resistance zone. This is accompanied by a key bullish trend line forming with support near $2,600.

Ethereum’s price is now trading above $2,600 and the 100-hourly Simple Moving Average but is encountering resistance near the $2,650 level which aligns with the 76.4% Fibonacci retracement level of the downward move from the $2,685 swing high to the $2,538 low.

The primary major resistance is near the $2,685 level. A decisive move above this resistance could propel the price toward the $2,750 resistance. Breaking above $2,750 may trigger even more gains, potentially driving Ether toward the $2,840 resistance zone in the near term, with the subsequent hurdle being around $2,880 or $2,920.

However, if Ethereum fails to clear the $2,650 resistance, it could face another decline. Initial support on the downside is near the $2,600 level and the trend line. The first significant support lies near the $2,570 zone. A clear drop below the $2,570 support could push the price toward $2,550, with any further losses potentially driving it toward the $2,480 support level in the near term. The next key support level sits at $2,420.

The technical indicators show that the hourly MACD for ETH/USD is gaining momentum in the bullish zone, while the hourly RSI for ETH/USD is now above the 50 zone. The major support level is set at $2,550, and the major resistance level at $2,650.