Ethereum (ETH) prices have risen to around $2,599, marking a 6.09% increase over the past 24 hours. Let's explore the current trends and technical levels.
ETH Breaks Above Previous Resistance
Ethereum is currently testing resistance in the $2,460 - $2,520 range, which has long remained unbroken. This level serves as a technical ceiling, with price repeatedly bouncing off it. However, the support level is being held around $2,100, indicating a potential for further growth.
Long-Term ETH Technical Outlook
Long-term indicators show that ETH has finally risen above the $2,540 mark and has reached $2,600. The closing of this week is expected to unlock pathways to levels not seen since February 2025. The Relative Strength Index (RSI) is positioned at a crucial point, testing the descending trend line.
Future Support and Resistance Levels
As of now, the 200-day moving average serves as a resistance level at $2,642, while the 50-day moving average is at $2,431. Crossing these levels may push ETH price into a pivotal zone between $2,692 and $2,808. If these levels are cleared, Ethereum's price could reach $3,000 and continue to rise.
Thus, the current price dynamics of Ethereum indicate a possible beginning of a new upward trend, with key support and resistance levels playing a significant role in shaping further movements.
