Ethereum has turned positive again, beating Bitcoin’s pace as ETH reclaimed the $2,550 level and now aims higher if bullish momentum holds steady in the coming sessions.
According to Kraken market data, Ethereum’s price staged a fresh rally above the $2,560 zone this week, pushing through the $2,600 resistance to test the $2,627 mark. This move confirms ETH’s strong buying interest, as the crypto market overall signals recovery.
Ethereum is currently trading above $2,580 and holding firmly over its 100-hourly Simple Moving Average, a key technical level for short-term trend confirmation. A bullish trend line is also forming with immediate support at $2,550, strengthening the bullish outlook.
Key Resistance Levels To Watch
On the upside, ETH bulls face their next challenge at the $2,620 resistance zone. A clear break above could pave the way to test the $2,650 and $2,680 levels. If the momentum accelerates, the next target sits at $2,780. Breaking above that resistance could lift Ethereum further toward $2,880 or even $2,920 in the near term.
Are Ethereum’s Downside Risks Limited?
Despite the bullish setup, traders should remain cautious. If Ethereum fails to clear the $2,620 barrier, a short-term pullback could see ETH test the $2,570 support first. A decisive break below the $2,520 level, which aligns with the trend line support, could trigger a deeper correction toward $2,450 or even $2,350.
Technical indicators suggest bulls still have the upper hand. The hourly MACD shows the momentum is strong but slightly easing in the bullish zone, while the RSI stays comfortably above 50, signaling healthy buying pressure.
ETH Price Outlook
Ethereum has outpaced Bitcoin this week and appears well-positioned for more gains if buyers defend the crucial $2,520 to $2,550 range. A clean breakout above $2,620 could see ETH attempt another push to retest its late May highs.
Traders and investors will keep a close eye on the $2,780 mark, a level that could confirm a broader uptrend if breached.
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.
