Ethereum Price Consolidation In Progress—Uptrend Resuming Soon? 📈
Ethereum's price is currently showing positive momentum above the $2,680 level. ETH is trading above $2,720 and the 100-hourly Simple Moving Average, indicating a bullish trend. If Ethereum price breaks above the $2,755 mark, it could initiate more robust, upward movements.
Having recently cleared the $2,650 and $2,660 resistance levels, Ethereum has crossed key milestones. There is a growing expectancy of a potential upward break, especially if it surpasses the $2,820 resistance level, possibly reaching as high as $3,000. It continues to be slightly overshadowed by Bitcoin's performance.
However, failing to clear the $2,755 resistance might see Ethereum's price decline. Supports at $2,665 and $2,620 could come into play, with key support at $2,500. On the technical side, Ethereum's MACD is gaining bullish momentum and the RSI is above 50, suggesting favorable conditions.
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