Apr 10, 2025
18 0
Ethereum Price Surges Nearly 15% as It Breaks Key Resistance Levels
Ethereum Price Analysis
Ethereum (ETH) has begun a significant price increase, surpassing the $1,600 level and gaining nearly 15% recently.
- ETH is trading above $1,550 and the 100-hourly Simple Moving Average.
- A break occurred above a bearish trend line with resistance at $1,470.
- The price tested resistance near $1,680 and could correct gains.
- A recent high was formed at $1,687.
Resistance and Support Levels
- Key resistance levels are at $1,650 and $1,680.
- Major resistance at $1,720 may lead to further increases toward $1,750 and potentially $1,850 or $1,880.
- Initial support is at $1,615, with major support at $1,580.
- A drop below $1,580 could lead to further declines towards $1,535 and $1,480.
Technical Indicators
- Hourly MACD is gaining momentum in the bullish zone.
- Hourly RSI is above the 50 mark.
