Ethereum Bounces Off Critical Support – Is This the Springboard to New Highs?

Ethereum's price just kissed a key support level—and the market's holding its breath. Will bulls seize the moment or get trampled by another leg down?

Technical tension mounts

The charts show ETH flirting with a make-or-break zone that's triggered massive moves before. No fancy indicators needed—just pure supply-demand physics at work.

Liquidity hunters circle

Algos are sniffing for stop losses below support while OI builds in derivatives markets. Classic setup for either a violent squeeze up...or another 'liquidity grab' (read: rug pull for retail).

The cynical take

Of course, Wall Street's crypto desks are whispering about 'accumulation zones' while quietly running order books full of spoofed bids. Some things never change—even in decentralized finance.

Ethereum Price Revisits Support

Ethereum price started a fresh increase above the $2,550 zone, like Bitcoin. ETH price gained pace for a move above the $2,565 resistance zone and entered a positive zone.

The bulls were able to push the price above the 61.8% Fib retracement level of the downward move from the $2,636 swing high to the $2,475 low. However, the bears remained active NEAR the $2,600 resistance zone and protected more gains.

The price faced rejection near the 76.4% Fib retracement level of the downward move from the $2,636 swing high to the $2,475 low. ethereum price is now trading below $2,550 and the 100-hourly Simple Moving Average.

ETH is now testing the $2,520 support. There is also a key bullish trend line forming with support at $2,530 on the hourly chart of ETH/USD. On the upside, the price could face resistance near the $2,550 level. The next key resistance is near the $2,580 level. The first major resistance is near the $2,600 level. A clear move above the $2,600 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 $2,800 in the near term.

More Losses In ETH?

If ethereum fails to clear the $2,580 resistance, it could start a fresh decline. Initial support on the downside is near the $2,520 level. The first major support sits near the $2,500 zone.

A clear move below the $2,500 support might push the price toward the $2,450 support. Any more losses might send the price toward the $2,350 support level in the near term. The next key support sits at $2,320.

Technical Indicators

Hourly MACDThe MACD for ETH/USD is gaining momentum in the bearish zone.

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

Major Support Level – $2,520

Major Resistance Level – $2,600