In a manner most unexpected, the Ethereum price, having been somewhat supported at the modest sum of $2,460, commenced a fresh ascent. Indeed, ETH now appears to be making rather a cheerful rise, perhaps aiming for a daring leap above the resistance at $2,600—how very melodramatic!
- Ethereum, in a display of remarkable perseverance, overcame the levels of $2,500 and $2,520 with a certain air of triumph.
- The current trading position finds ETH above $2,520 and the venerable 100-hour Simple Moving Average, as though it wishes to impress us all.
- A fortuitous break above a connecting bearish trend line, with resistance at $2,540, has occasioned a good deal of heady optimism on the hourly chart of ETH/USD (courtesy of Kraken, no less).
- Should the price boldly surpass the $2,600 mark, the pair might amass sufficient strength to indulge in further conquests, quite possibly towards more alluring heights.
Ethereum’s Morale Rebounds
After Bitcoin, in its capricious manner, traded to an all-time high, ETH took a moment to tease us with the $2,720 zone before a minor retreat. Dipping below $2,500 to $2,450, it found its footing again—what a spirited recovery!
Having tested these lows at $2,463, the price is now ascending once more. It even surpassed the $2,500 resistance, flaunting a triumph that was perhaps overdue. Notably, it broke above the 23.6% fib retracement of the decline from $2,729 to $2,463—quite the feat of resilience.
Presently, ETH basks above $2,520 and the esteemed 100-hour Simple Moving Average. Yet, one must not be too complacent, for the path to $2,600 remains fraught with resistance, cheerfully situated at the 50% fib retracement of the descent.
The next hurdle, dare we say, the real challenge, rests near $2,630. A crossing of this barrier might even propel Ethereum up to a daring $2,720 resistance—imagine that! Should it conquer this, the horizon could include heights of $2,800 or even $2,850—how delightfully speculative! 🚀
Are Dips Merely a Joke?
If Ethereum, in its customary whimsical fashion, fails to surmount the formidable $2,600 resistance, we might observe a modest decline. The initial support, perhaps not unexpectedly, lies close at $2,520, with a more substantial foundation at about $2,500.
A descent below this threshold could see ETH retreats to $2,460, and further losses might take it as low as $2,420. The grand support, in its grandeur, is at $2,350—could it truly come to that?
Technical Outlook:
Hourly MACD – The momentum gains a bullish air; the market seems to be in a fervent mood.
Hourly RSI – Above 50, indicating a not altogether unpromising stance.
Major Support Level – $2,500
Major Resistance Level – $2,600
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2025-05-26 05:12