Ethereum’s Daring Dance: Will the Bulls Waltz Back In?

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Oh, darling! Ethereum has decided to don its dancing shoes and prance above the $2,550 mark. It seems our dear ETH is now consolidating its fabulous gains, with its eyes set on the tantalizing $2,740 resistance. How positively thrilling! 💃✨

  • Ethereum has kicked off a delightful rise above the $2,700 level. Bravo! 🎉
  • The price is frolicking above $2,600 and the 100-hourly Simple Moving Average, as if it were a star on the stage.
  • A key bullish trend line is forming, with support at $2,540 on the hourly chart of ETH/USD (data feed via Kraken, darling).
  • If it clears the $2,740 zone, we might just witness a fresh surge. How exciting! 🥂

Ethereum’s Glamorous Comeback

After a rather dramatic dip to the $2,400 level, Ethereum has found its footing, much like a diva reclaiming the spotlight. It has gracefully cleared the $2,500 and $2,550 resistance levels, much to the delight of its fans.

The bulls have pushed the price above $2,650, and oh, what a sight it was when ETH spiked above $2,700! A high of $2,731 was achieved, and now it’s consolidating gains above the 23.6% Fib retracement level of the upward move from the $2,482 swing low to the $2,731 high. Quite the performance! 🎭

Currently, Ethereum is trading above $2,600 and the 100-hourly Simple Moving Average. A key bullish trend line is forming with support at $2,540 on the hourly chart of ETH/USD. How very chic!

On the upside, the price may face a bit of resistance near the $2,720 level. The next key resistance is at $2,740, and if it dares to break above $2,750, we could be looking at a fabulous leap towards $2,840. How delightful! 🥳

Ethereum Chart

Should it break above the $2,840 resistance, we might just see Ether strutting its stuff towards the $2,880 resistance zone or even $2,920 in the near term. What a show! 🎇

Are Dips Still in Vogue for ETH?

But, my dear, if Ethereum fails to clear the $2,740 resistance, it could very well start a fresh decline. Initial support on the downside is near the $2,640 level, with the first major support sitting at $2,580 and the 61.8% Fib retracement level of the upward move from the $2,482 swing low to the $2,731 high.

A clear move below the $2,580 support might push the price towards the $2,540 support. Any further losses could send it down to the $2,450 support level in the near term. The next key support sits at $2,350. How tragic! 😱

Technical Indicators

Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone. How splendid!

Hourly RSI – The RSI for ETH/USD is now above the 50 zone. Quite the achievement!

Major Support Level – $2,640

Major Resistance Level – $2,740

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2025-06-10 06:07