Ethereum Price Upside Run Intensifies — $2,400 Break Incoming?

Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing How Our News is Made Strict editorial policy that focuses on accuracy, relevance, and impartiality Ad discliamer Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. Ethereum price started a major increase above the $2,250 zone. ETH is now showing positive signs and might aim for more gains above $2,400. Ethereum started a steady upward move above the $2,250 zone. The price is trading above $2,300 and the 100-hourly Simple Moving Average. There is a key bullish trend line forming with support at $2,120 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to move up if it clears the $2,400 zone. Ethereum Price Rallies Over 10% Ethereum price extended its upward move after it cleared the $2,150 zone, like Bitcoin . ETH price was able to clear the $2,200 resistance zone. The bulls pushed the price above $2,320 and $2,350. A high was formed at $2,385, and the price is now consolidating gains above the 23.6% Fib retracement level of the recent upward move from the $2,062 swing low to the $2,385 high. Ethereum price is now trading above $2,320 and the 100-hourly Simple Moving Average . There is also a key bullish trend line forming with support at $2,120 on the hourly chart of ETH/USD. Source: ETHUSD on TradingView.com If the bulls remain in action above $2,320, the price could attempt another increase. Immediate resistance is seen near the $2,365 level. The first key resistance is near the $2,380 level. The next major resistance is near the $2,400 level. A clear move above the $2,400 resistance might send the price toward the $2,450 resistance. An upside break above the $2,450 region might call for more gains in the coming days. In the stated case, Ether could rise toward the $2,500 resistance zone or even $2,550 in the near term. Downside Correction In ETH? If Ethereum fails to clear the $2,400 resistance, it could start a fresh decline. Initial support on the downside is near the $2,320 level. The first major support sits near the $2,220 zone or the 50% Fib retracement level of the recent upward move from the $2,062 swing low to the $2,385 high. A clear move below the $2,220 support might push the price toward the $2,150 support. Any more losses might send the price toward the $2,100 region. The main support could be $2,050. Technical Indicators Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now above the 50 zone. Major Support Level – $2,320 Major Resistance Level – $2,400