Ethereum’s price has recently started to rise and is holding steady above $2,360. It’s currently stabilizing, and could climb higher if it breaks past the $2,400 mark.
- Ethereum started a steady increase above the $2,360 zone.
- The price is trading above $2,355 and the 100-hourly Simple Moving Average.
- There is a bullish trend line forming with support at $2,360 on the hourly chart of ETH/USD (data feed via Kraken).
- The pair could continue to move up if it stays above the $2,310 zone.
Ethereum Price Aims for Fresh Surge
Similar to Bitcoin, Ethereum’s price successfully held above the $2,300 level and began to rise. It’s now gaining momentum and aiming to break past $2,350 and $2,360.
The price briefly rose to almost $2,385, peaking at $2,398, and is now stabilizing. It dipped slightly below a key technical level – the 23.6% Fibonacci retracement – after moving from a low of $2,220 to a high of $2,399.
As a crypto investor, I’m watching Ethereum closely, and I’m happy to see it’s now trading above $2,350. It’s also broken above its 100-hour moving average, which is a good sign. Plus, I’m noticing a potential upward trend forming, with support around the $2,360 level – that means it’s likely to bounce back up if it dips slightly.
If the price stays above $2,310, it could continue to climb. Initial resistance is around $2,380, with stronger resistance levels at $2,400 and $2,440. Breaking above $2,440 could lead to a move towards $2,500, and beyond that, further gains are possible in the coming days. The price could then target resistance levels around $2,550 or even $2,565.
Another Pullback In ETH?
If Ethereum doesn’t break past the $2,400 mark, its price might start to fall. It could initially find some support around $2,360, near a recent trend line. A stronger support level is expected around $2,340.
If the price falls below $2,340, it could drop further to around $2,310 or retrace halfway back to the recent swing low of $2,220, after rising from that low to a high of $2,399. Continued selling could lead to a price around $2,265, with strong support likely near $2,220.
Technical Indicators
Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone.
Hourly RSI – The RSI for ETH/USD is now above the 50 zone.
Major Support Level – $2,360
Major Resistance Level – $2,400
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2026-05-06 06:45