Ethereum Price Signals Strength — Bullish Pop May Be Just Ahead

Ethereum price started a fresh increase above the $2,350 zone.

ETH is now showing positive signs and might aim for a move above the $2,550 zone.

Ethereum started a fresh upward move above the $2,320 level.

The price is trading above $2,350 and the 100-hourly Simple Moving Average.

There is a connecting bullish trend line forming with support at $2,440 on the hourly chart of ETH/USD (data feed via Kraken).

The pair could start a fresh increase if it settles above the $2,550 resistance zone in the near term.

Ethereum Price Eyes More Gains Ethereum price started a fresh increase above the $2,250 support level, like Bitcoin .

ETH price was able to clear the $2,320 and $2,350 resistance levels to move into a positive zone.

The bulls even pushed the price above the 61.8% Fib retracement level of the downward move from the $2,568 swing high to the $2,115 low.

The price is now facing hurdles near the $2,500 zone.

Ethereum price is now trading above $2,450 and the 100-hourly Simple Moving Average .

The price is now stuck near the 76.4% Fib retracement level of the downward move from the $2,568 swing high to the $2,115 low.

On the upside, the price could face resistance near the $2,480 level.

The next key resistance is near the $2,500 level.

The first major resistance is near the $2,550 level.

A clear move above the $2,550 resistance might send the price toward the $2,600 resistance.

An upside break above the $2,600 resistance might call for more gains in the coming sessions.

In the stated case, Ether could rise toward the $2,720 resistance zone or even $2,800 in the near term.

Another Drop In ETH? If Ethereum fails to clear the $2,550 resistance, it could start a fresh decline.

Initial support on the downside is near the $2,440 level and the trend line.

The first major support sits near the $2,390 zone.

A clear move below the $2,390 support might push the price toward the $2,310 support.

Any more losses might send the price toward the $2,220 support level in the near term.

The next key support sits at $2,150. Technical Indicators Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone.

Hourly RSI – The RSI for ETH/USD is now above the 50 zone.

Major Support Level – $2,310 Major Resistance Level – $2,550.

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