Ethereum Price Corrects Gains After Reaching $2,880 High

Ethereum price increased above $2,750 but is now correcting gains, potentially testing the $2,680 support zone.

Price started rising above $2,800.
Currently trading above $2,750 and the 100-hourly Simple Moving Average.
Key bullish trend line support at $2,800 has been broken.
Potential for further increase if it remains above $2,680.

Price Movements

Ethereum found support near $2,550, clearing resistance levels at $2,650 and $2,720. The price peaked at $2,880 before the current correction, moving below the 23.6% Fib retracement level.

Resistance levels are noted at:

$2,800
$2,840
$2,880

A break above $2,880 could lead to targets of $2,920 or higher.

Potential Decline

If Ethereum cannot surpass $2,820, a decline may occur. Key supports include:

$2,755
$2,680
$2,620
$2,550
$2,500

Technical indicators show decreasing momentum in the bullish zone with the MACD losing strength, and RSI below 50.

Major Support Level: $2,680
Major Resistance Level: $2,880