Ethereum Price Surges Over 8%, Breaks Above $2,350 Resistance

Ethereum (ETH) has increased over 8% from the $2,120 support level and is currently facing resistance near $2,460.

ETH began an upward move above $2,200.
The price is above $2,250 and the 100-hourly Simple Moving Average.
A break occurred above a bearish trend line with resistance at $2,240 on the hourly chart.
Settlement above $2,460 could lead to further increases.

Current Price Details

ETH cleared the $2,200 and $2,250 levels, moving into a positive zone. It also surpassed the 61.8% Fib retracement level from the recent downward movement.

The price is now trading above $2,300. The next key resistance levels are:

$2,440
$2,460 (near the 76.4% Fib retracement level)
$2,500 (potential target for further gains)
$2,550 and $2,620 or $2,650 if upward momentum continues

Potential Decline Risks

If ETH does not surpass $2,460, it may decline. Key support levels include:

$2,340
$2,320 (major support)
$2,250
$2,150 (next key support)
$2,120

Technical indicators suggest ETH is losing bullish momentum in the MACD, while the RSI remains above 50.