Ethereum Eyes Key Resistance As Price Reclaims $2,550 – Here Are The Levels To Watch
Ethereum (ETH) surged 7.5%, breaking above a key resistance level at $2,550 for the first time in weeks. The cryptocurrency climbed from a local low of $2,380 to a two-week high of $2,585. ETH has been trading between $2,400 and $2,800 since early May but briefly fell below this range after losing support at $2,550. Analysts suggest that maintaining support around $2,520 is crucial to avoid a return to lower levels. Key levels to monitor include $2,310 support and $2,735 resistance. Market watchers noted a three-month ascending triangle pattern, with a target resistance around $2,700. Historical patterns indicate a potential massive breakout, with ETH's price movements resembling previous cycles. Currently, ETH is trading at $2,568, reflecting a 6.1% weekly increase.
