Ethereum Price Rises Above $2,500 with $2,600 Resistance Ahead

Ethereum Price Update

Support found at $2,460; ETH is rising.
Price increased above $2,500 and $2,520 levels.
Trading above $2,520 and the 100-hourly Simple Moving Average.
Broke above bearish trend line resistance at $2,540.
Potential move above $2,600 resistance could strengthen uptrend.

After testing a low of $2,463, Ethereum has rebounded and surpassed critical resistance levels. The price is currently above the 23.6% Fib retracement level from recent highs and lows.

Key resistance levels include:

$2,600 (50% Fib retracement level)
$2,630
$2,650
$2,720

If ETH breaks above $2,720, further gains towards $2,800 or $2,850 may occur. Conversely, failure to clear $2,600 could lead to declines, with initial support at $2,520 and major support at $2,500.

Technical indicators show bullish momentum:

Hourly MACD gaining momentum in bullish zone
RSI above 50