Ethereum ( ETH ) price prediction: After breaking through $2,550, long positions target higher levels.

Ethereum ($ETH) price successfully broke through the key resistance level $2,450, starting a new round of pump. Currently, the ETH price has stabilized above $2,550, showing sustained upward momentum, as Crypto Assets investors follow whether it can break through further.

Current Price Trend Analysis

• Breakthrough Key Level: ETH/USD successfully broke through the $2,550 resistance zone and entered the bullish area, further attacking above the $2,620 resistance level, forming an intraday high of $2,636.

• Technical Pullback: After failing to continue the pump, the price has seen a slight pullback, testing the 23.6% Fibonacci retracement level of this rise from $2,373 (swing low) to $2,636 (high).

• Key Support Level: The current ETH price is trading above $2,560 and the 100-hour moving average. On the hourly chart, ETH/USD is forming a short-term upward channel, with the channel support at $2,570.

  

upward targets and resistance levels ( bullish scenario )

• The immediate resistance level is $2,625.
• The next key resistance level is $2,640.
• The main resistance level is at $2,650. A clear breakthrough at this level will open the door for the price to test the $2,720 resistance level.
• If it can strongly break through $2,720, then the ETH price prediction points to a recent test of the $2,750 or even $2,800 region, achieving more gains in Crypto Assets.

potential downside risks and support levels ( bearish scenario )

• If the Ethereum price fails to effectively break through the $2,620 resistance level, it may trigger a new round of correction.
• The initial downward support level is at $2,570 ( coinciding with the channel support ).
• The first major support level is at $2,520 area.
• A clear drop below $2,520 support level may drive the price down to $2,500.
• Further declines may cause ETH/USD to test the $2,420 resistance level, with the next key support level at $2,350.

Overview of ETH Technical Indicators

• Hourly MACD: Located in the bullish zone, but the upward momentum has weakened.
• Hourly Chart RSI: Currently positioned above the 50 level, indicating that bulls are still in control.
• Main support level: $2,520
• Main resistance level: $2,620

( Disclaimer: This article is for market analysis only and does not constitute any investment advice. Crypto Assets trading involves high risks, please make decisions cautiously. )