Ethereum price is currently trading above $2,320 and aiming to clear the $2,400 resistance to gain bullish momentum. The price is supported above $2,250 and has formed a base. The key resistance levels to watch are $2,400, $2,450, and $2,500, with potential gains above.
If Ethereum fails to break the $2,380 resistance, it may start another decline. Initial supports are at $2,350 and $2,330, with potential declines toward $2,250 and possibly $2,200.
Technical indicators show the hourly MACD losing momentum in the bullish zone, and the RSI above 50. Major support and resistance levels are $2,330 and $2,400, respectively.
