Ethereum has rebounded strongly from a critical support level near $1,550, with current trading activity placing the cryptocurrency near $2,488. Technical analysis indicates potential for significant upside movement.
Historical patterns reveal that Ethereum’s green support zone – spanning from $850 to $2,750 – has consistently provided foundational support during major market lows. Market technicians anticipate substantial resistance between $3,500 and $4,800 should bullish momentum continue.
The weekly Moving Average Convergence Divergence (MACD) indicator recently flashed a bullish crossover signal. This technical development suggests Ethereum could experience accelerated upward momentum if it achieves sustained trading above the $2,500 threshold.
Market analysts identify $2,700 as the critical breakout level, advising that a decisive breach would confirm continuation of the prevailing uptrend. Investors are monitoring the $2,500 resistance level for confirmation of sustainable price appreciation, as technical indicators imply strong foundations for potential trend extension.