I’m seeing Ethereum’s price really pick up lately – it’s been holding steady above $2,350, which is a good sign. Right now, it seems to be settling in, but if it can break through $2,425, I think it has the potential to climb even higher.
- Ethereum started a steady increase above the $2,380 zone.
- The price is trading above $2,350 and the 100-hourly Simple Moving Average.
- There is a bullish trend line forming with support at $2,320 on the hourly chart of ETH/USD (data feed via Kraken).
- The pair could continue to move up if it stays above the $2,320 zone.
Ethereum Price Corrects Recent Gains
Similar to Bitcoin, Ethereum’s price successfully held above the $2,250 level and began to rise. It’s now gaining momentum and aiming to break through the $2,350 and $2,380 price points.
The price recently peaked at $2,424 before starting to fall. It dropped below $2,380 and, in doing so, moved below a key technical level – the 38.2% Fibonacci retracement of the recent rise from $2,258 to $2,424.
Ethereum’s price has risen above $2,320 and is currently trending above its 100-hour moving average. A positive trend line is also developing, with support around the $2,320 level, according to the hourly ETH/USD chart.
If the price stays above $2,300, it could try to climb higher. Initial resistance is around $2,385, with a major hurdle near $2,400. If the price breaks through $2,420, it might reach $2,440, potentially leading to further gains in the days ahead. Successfully clearing $2,440 could push the price toward $2,500 or even $2,550 in the short term.
Another Decline In ETH?
If Ethereum doesn’t break through the $2,420 price level, it might start to fall. There’s some initial support around $2,340, which is halfway back down from its recent price swing between $2,258 and $2,424. A stronger support level is located near $2,320.
If the price falls below $2,320, it could drop to $2,285, and potentially even lower to around $2,250. The strongest support level is likely around $2,200.
Technical Indicators
Hourly MACD – The MACD for ETH/USD is losing momentum in the bullish zone.
Hourly RSI – The RSI for ETH/USD is now above the 50 zone.
Major Support Level – $2,320
Major Resistance Level – $2,385
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2026-04-23 06:23