Ethereum's price is once again at a crucial crossroads. After weeks of consolidation, ETH shows signs of renewed momentum as it watches key resistance levels.
Current Trends in the Ethereum Market
The price of Ethereum (ETH) currently stands at around $2,591, rebounding from a May low. On the daily chart, a positive trend is observed, with ETH still facing resistance at $2,632, which corresponds to the 200-day moving average. Green Heikin Ashi candles signal a possible bullish trend reversal.
Short-Term and Medium-Term Forecast
On the hourly chart, ETH recently broke above the moving average cluster of 20, 50, 100, and 200 days, creating strong support around the $2,550–$2,580 range. The next resistance zones are $2,780, $2,910, and $3,080. If ETH can sustain above $2,650, it may lead to rapid growth toward $2,780.
Potential Price Movement Scenarios for Ethereum
Multiple scenarios are currently possible. If ETH fails to hold closing above $2,620, it could retest the $2,400 level. However, strong support at $2,567–$2,582 may encourage further growth. Currently, Ethereum may reach $3,000 if it breaks through resistance at $2,780.
The ability of Ethereum to maintain key support and resistance levels will determine its price prospects in both the short-term and medium-term.
