May 14, 2025
5 0
Ethereum Trading Above $2,600 as Key Resistance at $3,100 Approaches
Ethereum (ETH) is currently trading above $2,600 after a significant buying surge, indicating a shift in market momentum. Key price movements include:
- Reclaimed multiple resistance levels, with potential upward targets.
- Next major resistance identified at $3,100, which may face selling pressure.
- Recent rally of over 98% since April 9th has shifted sentiment from bearish to bullish.
- Sustained strength observed for the first time after months of selling pressure.
- Support zone established at $2,233, critical to maintain during pullbacks.
Technical indicators show that Ethereum is approaching key resistance at the 200-day simple moving average (SMA) around $2,702.60. A successful breakout above this level could lead to further gains, while failure to hold above $2,435–$2,450 might trigger a correction. The upcoming days are crucial for determining if Ethereum can sustain its momentum and potentially lead into an altseason.
