Ethereum's price is consolidating above the $2,550 resistance, indicating a potential for an upside break if it surpasses the $2,650 resistance zone. Currently, ETH is trading over $2,600, with a bullish trend line offering support at $2,610 on the hourly chart. This setup suggests a possible rally continuation should the resistance levels be cleared.
The price has spiked past $2,650, and after a minor correction, it maintains strength above $2,600. Clearing pivotal resistance levels, such as $2,650 and $2,680, could push Ethereum's price towards the $2,750 resistance zone. Further, the next potential resistance is estimated near $2,880 or $2,920.
Conversely, failing to clear the $2,650 resistance could trigger a decline with initial support near $2,610 and a primary support level around $2,575. A movement below this might drive ETH towards $2,550, defending critical supports at $2,475 and $2,450.
Technical indicators show Ethereum is in a bullish momentum, with the MACD in the positive zone and RSI above 50. These levels serve as major support and resistance indicators: $2,575 and $2,650, respectively, denoting points to monitor for potential price changes.
