Ethereum (ETH) Shows Bullish Signals, Can It Surpass the Hurdle?

Jakarta, Pintu News – Ethereum (ETH) recently found support at $2,320 and started a fresh rise. Currently, Ethereum (ETH) is on the rise and may try to break the $2,650 resistance zone.

Ethereum Price Trend Recovery

After experiencing a downward correction past the $2,450 level, in contrast to Bitcoin (BTC), Ethereum (ETH) traded below the $2,400 and $2,350 support levels. However, buyers were active in the $2,300 zone. A low of $2,308 was formed and the price started increasing again. There was a rise above the $2,450 and $2,500 levels.

It also managed to cross the 61.8% Fibonacci retracement level of the decline from the swing high of $2,583 to the low of $2,308. In addition, there was also a break of the bearish trend line with resistance at $2,530 on the hourly chart of ETH/USD. Ethereum (ETH) price is now trading above $2,540 and the 100-hourly simple moving average. It is also above the 76.4% Fibonacci retracement level of the decline from the $2,583 swing high to $2,308 low.

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Potential Barriers and Resistance

On the upside, prices may face resistance near the $2,580 level. The next key resistance is near the $2,600 level. The first major resistance is near the $2,650 level. If it manages to cross the $2,650 resistance, the price could head towards the $2,720 resistance. In case of a break above the $2,720 resistance, it might trigger further gains in the coming sessions. In that scenario, Ethereum (ETH) could rise towards the $2,780 or even $2,840 resistance zone in the near future.

Ethereum Price Drop Possible

If Ethereum (ETH) fails to break the $2,650 resistance, there could be a new price drop. Initial support on the downside is near the $2,520 level. The first major support lies in the $2,450 zone. In case of a drop below the $2,450 support, the price could be pushed towards the $2,420 support. Further losses will probably send the price towards the $2,320 support level in the near term. The next key support is at $2,250.

Technical Indicators

The hourly MACD for ETH/USD is gaining momentum in the bullish zone. The hourly RSI (Relative Strength Index) for ETH/USD is now above the 50 zone, indicating that there are more buyers than sellers in the market right now. The key support level is at $2,450, while the key resistance level is $2,650. These two levels will be very important to determine the direction of the Ethereum (ETH) price in the near future.

Conclusion

With various technical signals indicating bullish potential, Ethereum (ETH) is on a path that might lead to further price gains. However, it is important to note that there are several hurdles to overcome before significant gains can occur.

Also Read: SEC and Crypto Regulation: Between Stability and Innovation

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities are subject to high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying andselling Bitcoin and other crypto asset investments are the responsibility of the reader.

Reference

• NewsBTC. Ethereum Price Flashes Bullish Signal. Accessed on May 20, 2025
• Featured Image: Decrypt