Ethereum Price Rallies as Bitcoin Takes a Breather — Is ETH Leading the Charge? 📈
Ethereum's price has shown a notable increase of over 5%, surpassing its initial support level at $2,460. This rise suggests Ethereum is taking the lead over Bitcoin as the market adjusts.
ETH has broken through key levels at $2,550 and $2,620 and is currently trading near $2,580, approaching the 100-hourly Simple Moving Average. Early signs of a bullish trend are observed with a new connecting trend line forming at $2,575.
Should ETH overcome the $2,720 resistance, further gains toward $2,800 and potentially beyond are possible in upcoming sessions. However, failure to clear this resistance may lead to a decline, hitting supports at $2,620 or $2,460.
Technical indicators point to this growth: although the MACD indicates waning momentum, the RSI remains above 50, expressing potential for continued upward activity.
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