Ethereum at $2.2k is hilarious as bulls aim for $2,500

Ethereum has seen a price increase in the past couple of weeks. The second-biggest crypto is currently trading above $2,200.

ETH has registered a 17.12% increase in the past month. Now, the crypto is comfortably above the $2,100 support level against the dollar. Ethereum has a high of $2,274, and its value is currently consolidating gains.

The crypto is testing the 23.6% Fib retracement level between $1,986 and $2,274. With a 55 simple moving average (4 hours), Ethereum is indicating positive signs above $2,150.

The sudden boost took place due to market sentiment becoming optimistic about crypto. Almost every notable crypto is gaining value, and as the second-biggest crypto, Ethereum is riding the wave comfortably.

Its newly formed market stance has enticed traders to reassess their portfolios using a precise Ethereum prediction. Experts observe an imminent resistance level being established at $2,275 in front of Ethereum.

The crypto faces a major resistance level at $2,350. A comfortable dash ahead of this level will put ETH around the $2,450 level. The next resistance zones ahead of Ethereum will be $2,500 and $2,550.

Contrarily, its nearest support level is also $2,200. After that, Ethereum relies on the $2,150 level, or the trend line. It means that the crypto is near the 50% Fib retracement level, which can push Ethereum to test $2,050.

A dip below this level can push Ethereum to $2,000. Any more dip than that would mean ETH would be trading around $1,920. The 4-hour MACD for ETH-USD is gaining swift momentum, putting it in the bullish zone.

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Ethereum can soon go past the $2,275 and $2,350 resistance levels if the trend keeps up.

Scott Cook

Scott Cook got into crypto world since 2010. He has worked as a news writer for three years in some of the foremost publications. He recently joined our team as a crypto news writer. He regularly contributes latest happenings of crypto industry. In addition to that, he is very good at technical analysis.

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