Ethereum's price started a new upward movement, exceeding the $2,550 resistance level, mirroring Bitcoin's trend. It has surpassed $2,600 and $2,620 thresholds, even briefly crossing $2,650. Though a slight downward correction followed, the price remained robust above $2,580 and could soon challenge the $2,650 resistance.
The price trajectory indicates bullish momentum, trading above $2,600 and the 100-hour simple moving average, underpinned by a crucial support level at $2,535. Clearing the primary resistance at $2,650 might propel it towards $2,680. If successful, Ethereum could test the $2,880 or $3,000 resistances.
Nevertheless, failure to navigate past the $2,650 mark might trigger a downward trajectory. Immediate support is noted around $2,600, with a significant one at approximately $2,535. Breaching the $2,500 support could pull the price down to the $2,450 or even $2,400 zone.
