Ethereum’s Rally Hits a Wall—Can Bulls Break Through?

Ethereum’s recent surge meets resistance as market forces collide. Traders hold their breath—will the second-largest crypto defy gravity or buckle under pressure?

Behind the numbers: ETH’s 30-day rally now faces its first real test. Liquidity pools thin as institutional players take profits (shocking, we know).

The make-or-break moment: If ETH holds above $3,800, we’re looking at consolidation before the next leg up. Drop below? Cue the ’I told you so’ from Bitcoin maxis.

Smart money’s betting on volatility—because when has crypto ever done what’s expected? Just don’t ask your friendly neighborhood VC about their 2022 portfolio.

Ethereum Price Faces Resistance

Ethereum price started a fresh increase from the $2,460 support zone, like Bitcoin. ETH price was able to recover above the $2,500 and $2,520 resistance levels.

The bulls pushed the price above the 23.6% Fib retracement level of the downward move from the $2,730 swing high to the $2,463 low. However, the bears were active NEAR the $2,600 resistance zone. The price failed to clear $2,600 and reacted to the downside.

Ethereum price is now trading near $2,550 and the 100-hourly Simple Moving Average. There was a break below a connecting bullish trend line with support at $2,555 on the hourly chart of ETH/USD.

On the upside, the price could face resistance near the $2,580 level. The next key resistance is near the $2,600 level. It is close to the 50% Fib retracement level of the downward MOVE from the $2,730 swing high to the $2,463 low.

The first major resistance is near the $2,650 level. A clear move above the $2,650 resistance might send the price toward the $2,720 resistance. An upside break above the $2,720 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $2,800 resistance zone or even $2,850 in the near term.

More Losses In ETH?

If ethereum fails to clear the $2,600 resistance, it could start a fresh decline. Initial support on the downside is near the $2,550 level. The first major support sits near the $2,520 zone.

A clear move below the $2,520 support might push the price toward the $2,460 support. Any more losses might send the price toward the $2,420 support level in the near term. The next key support sits at $2,350.

Technical Indicators

Hourly MACDThe MACD for ETH/USD is losing momentum in the bullish zone.

Hourly RSIThe RSI for ETH/USD is now below the 50 zone.

Major Support Level – $2,520

Major Resistance Level – $2,600