Ethereum Price Surges Above $2,600, Eyes $2,750 Resistance

Ethereum (ETH) price has shown a positive trend after finding support at $2,500. It is currently aiming for resistance levels above $2,750.

ETH increased above $2,550 and $2,620.
Price trading above $2,540 and the 100-hourly Simple Moving Average.
A bullish trend line is forming with support at $2,550 on the ETH/USD hourly chart.
Potential strength if it clears the $2,750 resistance.

Current Price Movement

Following Bitcoin's all-time high, Ethereum rose above $2,600, reaching a peak of $2,731. It is consolidating gains above the 23.6% Fib retracement level from the recent low of $2,442.

Key price levels include:

Resistance at $2,740 and $2,750
Major resistance near $2,800
Potential upward movement toward $2,840 and $2,920 if the $2,800 level is breached

Support Levels

If resistance at $2,750 isn't surpassed, a decline may occur with initial support around:

$2,675
$2,550 (major support)
Further declines could target $2,500 and $2,450

Technical Indicators

Hourly MACD indicates bullish momentum. RSI is above 50, suggesting continued upward potential.