Ethereum Price Breaks $2,600: Is More Upside Ahead?

Sep 23, 2024 04:00 am Cryptocurrency 34

Ethereum price started a fresh upward move above the $2,500 resistance. ETH is now gaining pace above $2,600 and might continue to rise.

Ethereum started another increase from the $2,400 resistance.

The price is trading above $2,550 and the 100-hourly Simple Moving Average.

There is a key bullish trend line forming with support at $2,550 on the hourly chart of ETH/USD (data feed via Kraken).

The pair must clear the $2,650 resistance to continue higher in the near term.

Ethereum Price Climbs Over 5%

Ethereum price remained well-supported and extended its increase, beating Bitcoin. ETH was able to clear the $2,450 and $2,500 resistance levels. The bulls even pushed the price above the $2,500 resistance.

Recently, it was able to surpass the 76.4% Fib retracement level of the downward correction from the $2,633 swing high to the $2,528 low. The price is now showing positive signs and trading above the recent swing high of $2,633.

Ethereum ..

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