Ethereum Soars Past $2,350 Resistance – 8% Rally Signals Bullish Revival

Ethereum just pulled off a textbook breakout—smashing through the $2,350 ceiling like it was made of tissue paper. The 8% surge isn’t just a dead-cat bounce; it’s a middle finger to the bears who thought ETH had lost its mojo.

The Resistance Breaker

No more sideways action. No more ‘wait-and-see’ from institutional bag-holders. ETH’s price action just gave traders exactly what they crave: volatility with a side of momentum.

Why This Rally Isn’t Fluff

Forget the hopium—this isn’t some meme-fueled pump. The move comes with actual volume, not just degenerate leverage plays (though let’s be real, those never hurt).

The Cynic’s Corner

Wall Street’s still trying to ‘understand blockchain’ while ETH casually pockets another 8%. Maybe they’ll catch up by 2030—if their compliance teams approve it.

Ethereum Price Regains Traction

Ethereum price started a fresh increase from the $2,120 support level, like Bitcoin. ETH price was able to clear the $2,200 and $2,250 resistance levels to move into a positive zone.

Besides, there was a break above a key bearish trend line with resistance at $2,240 on the hourly chart of ETH/USD. The bulls even pushed the price above the 61.8% Fib retracement level of the downward MOVE from the $2,568 swing high to the $2,114 low.

Ethereum price is now trading above $2,300 and the 100-hourly Simple Moving Average. On the upside, the price could face resistance near the $2,440 level. The next key resistance is near the $2,460 level. It is close to the 76.4% Fib retracement level of the downward move from the $2,568 swing high to the $2,114 low.

The first major resistance is near the $2,500 level. A clear move above the $2,500 resistance might send the price toward the $2,550 resistance. An upside break above the $2,550 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $2,620 resistance zone or even $2,650 in the near term.

Another Decline In ETH?

If ethereum fails to clear the $2,460 resistance, it could start a fresh decline. Initial support on the downside is near the $2,340 level. The first major support sits near the $2,320 zone.

A clear move below the $2,320 support might push the price toward the $2,250 support. Any more losses might send the price toward the $2,150 support level in the near term. The next key support sits at $2,120.

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 – $2,320

Major Resistance Level – $2,460