Ethereum Price Surges Over 25% to Above $2,200
Ethereum Price Update
- Ethereum surged above the $2,000 zone, gaining over 25% and consolidating near $2,200.
- The price is currently trading above $2,120 and the 100-hourly Simple Moving Average.
- A bullish trend line is forming with support at $2,150 on the hourly chart of ETH/USD.
- A breakout above $2,250 may lead to further gains.
Current high reached $2,241; consolidation ongoing above the 23.6% Fib retracement level from $1,752 to $2,241.
- Resistance levels: $2,240, $2,250, $2,320.
- Potential upside targets: $2,450 and $2,500-$2,550 if upward momentum continues.
If Ethereum fails to break $2,250, it may face downside risks. Initial support is at $2,200, followed by $2,150 and $2,075. The key support level is $2,000.
Technical indicators show:
- MACD gaining momentum in bullish zone.
- RSI above 50.