Ethereum price has experienced recent losses, testing support at $2,450. The cryptocurrency is currently making a recovery attempt, though it faces significant resistance around the $2,550 level.
The price correction followed a decline below the $2,600 level and further slippage past the $2,550 and $2,500 marks, entering a short-term bearish period. Key resistance lies at $2,560, $2,600, and potentially higher at $2,650.
If Ethereum can break these resistance levels, it could see gains towards $2,700. Failure to surpass $2,550 might cause another decline, with supports at $2,520, and further down at $2,450. Technical indicators like MACD and RSI show the cryptocurrency's momentum remains in balance between bearish and bullish outlooks.
