Ethereum (ETH) Price: Breaks Above Bearish Trend Line at $2,540 Level 📈
Ethereum (ETH) has successfully found support at $2,463, sparking a fresh increase in its price. The cryptocurrency has surged above key resistance levels at $2,500 and $2,520. Most notably, ETH managed to break above a bearish trend line, which positioned its resistance at $2,540.
Currently, Ethereum is trading above the 100-hour moving average. The next resistance point is identified near the $2,600 mark, which coincides with the 50% Fibonacci retracement level. The overall technical indicators for Ethereum suggest a bullish momentum, hinting at potential further upward movement.
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