Ethereum Price Prediction: Aiming for Higher Targets After Breaking $2550

Ethereum price regains upward momentum, successfully breaking through the key resistance level of the 2520 USD area. Currently, ETH has held above 2550 USD, long positions are strengthening, and it is expected to continue its upward attack.

Key Resistance Breakthrough and Technical Improvement

• The ETH price accelerated after breaking through the 2520 USD resistance, entering the bullish zone.

• Successfully broke through the 50% Fibonacci retracement level from the high point of 2636 USD to the low point of 2475 USD.

• On the hourly chart, ETH/USD has broken through the key bearish trend line resistance (around $2520).

• The current price is trading above $2565 and the 100-hour moving average, the short-term technical structure is strengthening.

  

Upside Targets and Potential Resistance Levels

• Primary resistance level: around $2600 (near the 76.4% Fibonacci retracement level of the decline from 2636 to 2475).
• Key resistance level: $2620 area.
• Main resistance level: $2650 area. If this level is clearly broken, ETH price may challenge the $2720 resistance.
• Breaking above 2720 USD will be a strong bullish signal, potentially driving ETH further towards the 2750 USD or even 2800 USD levels (potential short-term trading opportunity).

Downside Risks and Key Support Levels

• If it fails to break through the 2600 USD resistance, ETH may initiate a pullback.
• Initial support level: around $2550 (recent bull-bear watershed).
• Main support level: $2520 area. A clear break below this level may test the $2500 support.
• If it continues to hold below, the price may slide to $2420, with the next key support at $2350 (potential area for buying on dips).

Technical Indicator Signals

• Hourly MACD: Located in the bullish zone with increasing momentum (long positions favored).
• Hourly RSI: Above the 50 level (Market sentiment is leaning positive).

Key Operation Reference:

• Main support level: $2,520 (2520 USD )
• Main resistance level: $2,600 (2600USD)