Ethereum’s price has begun to rise, breaking past $2,320. It’s currently stabilizing, but may face difficulty climbing much further beyond the $2,385 resistance level.
- Ethereum started a decent upward move from the $2,265 zone.
- The price is trading above $2,320 and the 100-hourly Simple Moving Average.
- There is a bullish trend line forming with support at $2,320 on the hourly chart of ETH/USD (data feed via Kraken).
- The pair could start a fresh decline if it stays below the $2,300 zone.
Ethereum Price Faces Hurdles
Similar to Bitcoin, Ethereum’s price stayed above the $2,265 support level. After establishing a base, the price of ETH began to rise, breaking through the $2,300 resistance.
The price went above the 50% Fibonacci retracement level, measuring the recent drop from a high of $2,423 to a low of $2,265. Buyers continued to drive the price up, almost reaching $2,380. Additionally, a rising trend line is developing, providing support around $2,320 on the hourly ETH/USD chart.
Ethereum’s price is currently above $2,320 and also above its 100-hour moving average. If buying pressure continues above $2,320, the price might try to rise further. The next significant price hurdle is around $2,385, which also corresponds to a key technical level based on recent price movements.
Currently, Ether is facing initial resistance around $2,400, with a stronger barrier near $2,420. If the price breaks above $2,420, it could climb towards $2,480. A move past $2,480 could lead to further increases, potentially pushing Ether towards a resistance zone between $2,550 and $2,565 in the short term.
Another Drop In ETH?
If Ethereum doesn’t break past $2,385, its price might start to fall. It could initially find some support around $2,320, with stronger support expected near $2,300.
If the price falls below $2,300, it could drop to $2,265. Further declines might lead to a price around $2,220, with strong support expected near $2,200.
Technical Indicators
Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone.
Hourly RSI – The RSI for ETH/USD is now above the 50 zone.
Major Support Level – $2,300
Major Resistance Level – $2,385
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2026-05-11 06:23