HomeAltcoin NewsEthereum Price Analysis: ETH Surges As Bulls Aim For $2,500

Ethereum Price Analysis: ETH Surges As Bulls Aim For $2,500

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  • Ethereum price is moving higher above the $2,200 resistance against the US Dollar.
  • ETH price is now trading above $2,150 and the 55 simple moving average (4 hours).
  • There is a key bullish trend line forming with support near $2,130 on the 4-hour chart (data feed from Coinbase).
  • The pair could climb further if it stays above the $2,130 support zone.

Ethereum price is rising above the $2,200 level against the US Dollar. ETH/USD could rise further if it clears the $2,275 resistance zone.

Ethereum Price Analysis

In the past few sessions, Ethereum saw a decent increase above the $2,000 level against the US Dollar. ETH price was able to gain pace for a move above the $2,050 level and the 55 simple moving average (4 hours).

The bulls even pushed the price above the $2,10 resistance zone. A high is formed near $2,274 and the price is now consolidating gains. It is trading above the $2,150 level. It is testing the 23.6% Fib retracement level of the upward wave from the $1,986 swing low to the $2,274 high.

Ether’s price is showing positive signs above $2,150 and the 55 simple moving average (4 hours). There is also a key bullish trend line forming with support near $2,130 on the 4-hour chart.

Immediate resistance on the upside is near the $2,275 level. The next major resistance is near the $2,350 zone. A clear move above the $2,350 level could send the price toward $2,450. Any more gains could even send the price toward the $2,500 resistance zone or $2,550 in the near term.

On the downside, initial support is near the $2,200 level. The next major support is now near the $2,150 level or the trend line. It is close to the 50% Fib retracement level of the upward wave from the $1,986 swing low to the $2,274 high, below which the price might test $2,050.

A break below the $2,050 support could push the price to $2,000. Any more losses could lead the price towards $1,920.

Ethereum Price
Ethereum Price

Looking at the chart, Ethereum’s price is trading above the $2,150 zone and the 55 simple moving average (4 hours). Overall, Ether’s price could climb further if it stays above the $2,130 support zone.

Technical indicators

4 hours MACD – The MACD for ETH/USD is now gaining momentum in the bullish zone.

4 hours RSI (Relative Strength Index) – The RSI for ETH/USD is now above the 50 level.

Key Support Levels – $2,150, followed by the $2,130 zone.

Key Resistance$ Levels – $2,275 and $2,350.

Aayush Jindal
Aayush Jindal
Aayush has spent over seven years as a financial markets contributor and observer. He specializes in market strategies and technical analysis, comes with an IT background. He possess strong technical analytical skills and is well known for his entertaining and informative analysis of the currency and commodities markets. He is a software engineer by profession, loves blogging and observing financial markets.

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