Ethereum Surpasses $2,550 — But Is a Correction Approaching?

Ethereum has just experienced a significant increase from the low of $2,375, bringing the second largest cryptocurrency in the world back above the $2,550 mark and is currently attempting to break down the important resistance level of $2,620. However, some technical signals indicate that the possibility of a short term adjustment still exists. Price momentum: ETH returns to the bullish zone Similar to Bitcoin, Ethereum has surged strongly from the support area around $2,375. After breaking through the psychological resistance level of $2,500, ETH continues to consolidate the upward trend by breaking down the Fibonacci level of 76.4% calculated from the peak of $2,523 down to the bottom of $2,372. The price has surpassed the important resistance level of $2,550 and even approached the high of $2,614 before temporarily pausing. Currently, ETH is still trading above the 100-hour moving average, indicating that the short term trend remains tilted towards the positive. The ETH/USD price chart on an hourly basis shows the formation of a narrowing triangle – a pattern that often signals accumulation before the next breakout. The nearest support level of the pattern is around $2,560. The resistance and support levels to watch Resistance near: $2,615 — this is also the 1.618 Fib extension of the drop from $2,523 to $2,372. Next resistance: $2,650 and then the area of $2,665. If ETH can completely break this area, the upward momentum may extend to $2,720. Bullish scenario: If it exceeds $2,720, ETH may aim for higher targets like $2,750 or even $2,800 in the short term. Adjustment scenario: Early warning from technical indicators However, if ETH cannot break through the resistance level of $2,615 in the near future, profit-taking pressure may cause the price to turn down. First support: $2,560 — if broken, the downtrend may extend to $2,550. Important support: $2,520 — this will be the crucial barrier for whether ETH can maintain its upward trend. If it breaks below $2,520, the price may plunge to deeper support areas like $2,450 or even $2,350. Technical Analysis: Contradictory Signals Hourly MACD: Gradually losing upward momentum, showing signs of a downward crossover. RSI ( Relative Strength Index ): Still above the 50 threshold, indicating that buying strength has not completely weakened. Summary: ETH is at a crossroads. Ethereum is currently in a battleground between buyers and sellers. Maintaining above $2,550 and breaking down $2,615 will determine whether the upward momentum can continue or not. While the overall trend remains positive, investors should closely monitor support levels and signals from MACD to avoid being caught in unexpected corrections.