Ethereum Price Consolidation Signals Uptrend Resumption

Ethereum Price Consolidation and Potential Upside Break

• Ethereum is trading above $2,720, supported by the 100-hourly Simple Moving Average.
• A key rising channel offers support at $2,725 on the ETH/USD hourly chart.
• The price faces resistance near $2,755 and could rise if it breaks above $2,755 and $2,800.
• Main resistance levels are forming near $2,800 and $2,820.
• If Ethereum fails to clear the $2,755 resistance, initial support is near $2,720.

Ethereum’s price is showing positive signs above the $2,680 zone. Trading above $2,720 with support from a key rising channel suggests potential bullish moves if resistance at $2,755 is surpassed.