Ethereum Smashes Resistance: ETH’s Relentless Rally Leaves Traders in Awe
Ethereum isn’t just climbing—it’s rewriting the rules of gravity. While traditional markets wobble on Fed whispers, ETH barrels past $4,000 like Wall Street’s algorithms forgot to short it.
The gas-free miracle
Post-Merge upgrades keep slashing transaction costs, leaving BTC maximalists scrambling to explain why their ’digital gold’ moves at dial-up speeds.
Institutions FOMO-ing hard
BlackRock’s ETH ETF approval triggered a stampede of suits into DeFi—watching hedge funds ape into NFT loans is the schadenfreude retail hodlers deserve.
As ETH flirts with its 2025 ATH, one question remains: when will the ’serious investors’ admit crypto runs on internet mob psychology instead of their precious discounted cash flow models?
Ethereum Price Surges And Clears $2,500
Ethereum price remained supported and started a fresh increase above $2,200, beating Bitcoin. ETH gained pace for a MOVE above the $2,350 resistance zone.
The bulls were able to push the price above the $2,500 resistance zone. The price gained over 35% and recently surpassed the $2,550 resistance zone. A high was formed at $2,606 and the price is now consolidating gains. There was a minor decline below the 23.6% Fib retracement level of the upward move from the $2,272 swing low to the $2,606 high.
Ethereum price is now trading above $2,500 and the 100-hourly Simple Moving Average. Besides, there is a connecting bullish trend line forming with support at $2,480 on the hourly chart of ETH/USD.
On the upside, the price seems to be facing hurdles near the $2,550 level. The next key resistance is near the $2,600 level. The first major resistance is near the $2,620 level. A clear move above the $2,620 resistance might send the price toward the $2,650 resistance.
An upside break above the $2,650 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $2,720 resistance zone or even $2,780 in the near term.
Are Dips Limited In ETH?
If ethereum fails to clear the $2,550 resistance, it could start a fresh downside correction. Initial support on the downside is near the $2,470 level. The first major support sits near the $2,440 zone and the 50% Fib retracement level of the upward move from the $2,272 swing low to the $2,606 high.
A clear move below the $2,440 support might push the price toward the $2,350 support. Any more losses might send the price toward the $2,270 support level in the near term. The next key support sits at $2,220.
Technical Indicators
Hourly MACDThe MACD for ETH/USD is losing momentum in the bullish zone.
Hourly RSIThe RSI for ETH/USD is now above the 50 zone.
Major Support Level – $2,440
Major Resistance Level – $2,550
