Ethereum Price Surges Above $2,480, Eyes Key Resistance at $2,520

Ethereum Price Update

Ethereum price increased above $2,480.
Currently consolidating gains above $2,450 and the 100-hourly Simple Moving Average.
A bullish trend line supports at $2,440 on the hourly chart.
Stability above $2,420 could lead to further increases.

Price Movement Insights

Ethereum surpassed the $2,450 and $2,480 resistance levels, establishing a strong position. The price peaked at $2,523 and is currently above the 23.6% Fib retracement level from the low of $2,394.

Key resistance levels are:

$2,520
$2,550
$2,580

A break above $2,580 may push prices toward $2,650, potentially reaching $2,720 or $2,800 in the near term.

Potential Downside Risks

If Ethereum does not clear $2,520, it may decline. Initial support is at $2,480, with further key levels at:

$2,460 (50% Fib retracement)
$2,440
$2,400
$2,350

Technical indicators show:

MACD gaining momentum in the bullish zone
RSI above 50

Major support level is $2,440; major resistance level is $2,520.