Ethereum has seen an upward price movement above the $2,550 resistance level, aligning with Bitcoin's rally, yet lacking similar strength. The price has risen above $2,600, trading beyond the 100-hourly Simple Moving Average.
A bullish trend line forms support at $2,520 on ETH/USD's hourly chart. Despite this, resistance levels at $2,630 and $2,650 pose challenges. Overcoming $2,720 may lead the price toward $2,880 and potentially $2,950.
If Ethereum fails to surpass $2,650, a downside correction might occur, with support at $2,595 initially. Further declines could bring the price to $2,450, while key support sits at $2,320.
Technical indicators show a bullish momentum, with the MACD gaining momentum in the positive zone and the RSI above 50.
