The Ethereum price has been gaining momentum and has surpassed the $2,200 resistance level. It is currently trading above $2,200 and the 100-hourly Simple Moving Average.
There is a bullish trend line forming with support around $2,225. If the price clears the $2,275 resistance zone, it could extend its rally towards the $2,500 level. However, if it fails to break the $2,250 resistance, there might be a downside correction.
The initial support is around $2,220, followed by $2,175 and $2,150. The MACD indicator shows a loss of momentum in the bullish zone, while the RSI is above the 50 level.
Source: NEWSBTC
Ethereum Price Surges Over 8% and Eyes $2,500 Resistance Level in Bullish Rally
