Ethereum Price Shows Positive Signs Above $2,680 Resistance

Ethereum is currently showing positive momentum, trading above $2,650.

ETH is above $2,620 and $2,680, supported by the 100-hourly Simple Moving Average.
A key breakout occurred above a contracting triangle with resistance at $2,700.
A potential upward move is possible if ETH settles above $2,725 and $2,755.

Price Dynamics

Recent support has held above $2,500, with ETH breaking $2,620, entering a bullish phase. It surpassed the 50% Fib retracement level from the recent high of $2,845 to a low of $2,605.

Current resistance levels are:

$2,725
$2,755 (61.8% Fib retracement)
$2,800 to $2,820 (main resistance)

A breakthrough at $2,820 could lead to targets near $2,880 and potentially $2,920 or $3,000.

Downside Risks

If ETH fails to break past $2,755, it may decline. Key support levels include:

$2,700
$2,660 (first major support)
$2,620
$2,550
$2,500 (next key support)

Technical indicators show:

MACD gaining bullish momentum
RSI above 50