Ethereum Pushes Higher, But Can It Hold?
Ethereum’s price is making another run upward, climbing past $2,480 and holding steady for now. It’s not exactly a wild surge, but the fact that ETH has managed to stay above $2,450—and the 100-hour moving average—suggests traders aren’t ready to give up just yet.
There’s a decent support line forming around $2,440, at least according to the hourly ETH/USD chart (Kraken data). That could mean more stability, assuming nothing unexpected shakes things up. But crypto being crypto, that’s always a big “if.”
Where’s the Next Resistance?
After bouncing from the $2,420 zone—mirroring Bitcoin’s recent moves—Ethereum pushed through $2,450 and $2,480 without too much trouble. It even briefly touched $2,523 before settling into a quieter phase. Right now, it’s hovering above the 23.6% retracement level from its recent low of $2,394, which isn’t a bad place to be.
If the upward trend holds, the next test is $2,520. Clearing that could open the door to $2,550, maybe even $2,580. And if things really pick up steam? Well, $2,650 isn’t out of the question. Some traders are eyeing $2,720 or higher, but that feels a little optimistic unless broader market sentiment shifts.
What If the Rally Fizzles?
Of course, nothing goes up forever. If ETH can’t break past $2,520, we might see a pullback. The first real support sits around $2,480, followed by $2,460—which lines up with the 50% retracement from the recent swing low.
A drop below $2,460 could send ETH back toward $2,440, and if that doesn’t hold, $2,400 becomes the next checkpoint. Beyond that, things could get messy, with $2,350 acting as a last line of defense.
What the Indicators Say
The MACD is still in bullish territory, gaining a bit of momentum, and the RSI is comfortably above 50. Neither is screaming “sell,” but they’re not exactly shouting “buy now” either. It’s more of a cautious nod toward stability.
For now, the key levels to watch are $2,440 on the downside and $2,520 up top. Which way it breaks next will probably depend on whether Bitcoin decides to cooperate—or throw another curveball.
