Ethereum price climbs back above $2,550, supported by bullish momentum that could soon push the asset toward $2,720 if buyers hold key levels.
Ethereum is once again showing signs of strength, trading comfortably above $2,575 and its 100-hourly Simple Moving Average, according to the latest data from Kraken. After reclaiming the $2,450 zone earlier this week, ETH extended gains past $2,550, reaching as high as $2,636 before a modest pullback.
A short-term rising channel is now in place, with immediate support around $2,570. As long as this level holds, traders expect Ethereum to attempt a move above the next major resistance zones at $2,625 and $2,650. If momentum continues, ETH could aim for $2,720 and potentially test the $2,750 to $2,800 range next.
However, the bulls need to keep price action supported above $2,520 to avoid a slide back to $2,500 or lower. A break below this zone could see ETH revisit the $2,420 or even $2,350 area, analysts say.
Technical signals are mixed but lean bullish. The hourly RSI for ETH/USD remains above 50, while the MACD shows slowing momentum but stays in positive territory for now.
Traders and investors will be watching whether Ethereum can hold its channel structure as the broader market tries to recover. A decisive push above $2,650 could confirm a fresh breakout for ETH in the days ahead.
At last check, Ethereum trades at around $2,575 with steady volume and a 7-day gain of 3.4%, CoinMarketCap data shows.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments are volatile and risky. Always conduct your research before making any investment decisions.
