Ethereum Price Pops Above $2,700 — Rally Gains Traction Once More 📈
The Ethereum price saw a boost as it surpassed the $2,700 mark, finding its footing above $2,620 alongside the 100-hourly Simple Moving Average. This increase suggests a potential revisit to the $2,575 support zone.
Ethereum broke a key bearish trend line resistance at $2,450 on the hourly ETH/USD chart, sparking this bullish movement. A high of $2,736 was reached before corrections set in, although support levels above $2,620 remain strong.
Moving forward, resistance levels are noted at $2,720 and $2,735, with critical resistance at $2,750. Surpassing these levels could drive Ethereum towards $2,840, and potentially to $2,880 or $2,950. Conversely, failure to overcome resistance might trigger a correction towards the support zones at $2,600, $2,575, and possibly lower.
Key technical indicators reveal the MACD losing bullish momentum, while the RSI remains above 50, indicating persistent buyer interest.
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