Ethereum Price Struggles Near $2,550 Resistance After Recent Increase
Ethereum price is currently facing resistance after starting an increase from $2,460.
- ETH increased above $2,500 and $2,520 but struggles near $2,550.
- A break occurred below the bullish trend line at $2,555.
- Further losses could happen if the price moves below the $2,500 support zone.
Resistance Levels
ETH has not cleared the $2,600 resistance zone and reacted negatively. The price is trading near the 100-hourly Simple Moving Average.
- Key resistance levels: $2,580, $2,650, and $2,720.
- Pushing above $2,650 might lead to further gains toward $2,800 or $2,850.
Potential Downside Risks
If ETH cannot surpass $2,600, it may decline with initial support at $2,550 and major support at $2,520.
- A move below $2,520 could target $2,460 and potentially $2,420.
- The next key support level is at $2,350.
Technical Indicators
- MACD indicates losing momentum in the bullish zone.
- RSI is below the 50 mark.