NewsBTC
Mar 6, 2025
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Ethereum Price Rises Above $2,220, Eyes Move Past $2,350 Resistance

2 min

Ethereum Price Update

Ethereum is recovering from the $2,000 support level and is attempting to rise above the $2,350 resistance zone.

  • ETH has moved above the $2,220 support level.
  • The price trades above the 100-hourly Simple Moving Average.
  • A rising channel is forming with support at $2,200 on the hourly chart.
  • Key resistance levels are at $2,275 and $2,350.

Following a decline below $2,350, ETH formed a low at $2,003 before starting a recovery. It has tested resistance levels at $2,150 and $2,200, and it is currently facing hurdles near $2,275.

Further gains could occur if ETH clears the $2,340 resistance, potentially leading to prices around $2,420 or even $2,500 to $2,550 in the near term.

If ETH fails to break the $2,275 resistance, it may decline again, with initial support at $2,240 and major support at $2,220. A drop below $2,130 could lead to further declines toward $2,080 or $2,050, with critical support at $2,000.

Technical Indicators

  • Hourly MACD is gaining bullish momentum.
  • Hourly RSI is above the 50 mark.
  • Major Support Level is $2,220.
  • Major Resistance Level is $2,275.