Ethereum has resumed its upward trajectory after finding strong support near the $2,350 level. The digital asset has shown renewed strength in recent trading sessions, pushing above several key technical resistance levels and indicating potential for further gains. The price movement began with a decisive bounce from the $2,350 support zone, demonstrating buyer interest at lower levels.
This initial support helped establish a foundation for the subsequent price increase, which saw ETH break through multiple resistance points. The cryptocurrency has now positioned itself above the psychologically important $2,500 mark, which serves as both a symbolic and technical milestone. This level has historically acted as a pivot point for price action, making the current position particularly noteworthy for traders and investors.
Technical analysis reveals that ETH has moved beyond the 76.4% Fibonacci retracement level, calculated from the recent swing high of $2,583 to the low of $2,357. Market participants are now watching several key resistance levels that could influence future price movement. The immediate challenge appears at $2,580, followed by more substantial resistance at $2,620.
A clear break above these levels could open the path toward $2,650. Should buyers succeed in pushing the price above $2,650, the next target would likely be the $2,720 level. However, the market also presents clear risk levels for traders to monitor. If Ethereum fails to maintain its momentum above current levels, initial support can be found near $2,520, with a more substantial support zone around $2,500.
The hourly MACD (Moving Average Convergence Divergence) indicator shows increasing momentum in the bullish zone, while the RSI (Relative Strength Index) remains above the 50 mark, supporting the current upward movement. If selling pressure emerges and pushes the price below support levels, the $2,450 zone would become crucial.
A break below this area could potentially lead to a test of lower support at $2,320. As of the latest market data, Ethereum continues to trade above the $2,500 level, with immediate resistance ahead at $2,580 and support established at $2,450.
