Ethereum Price Targets $2,400 Amidst Bullish Momentum
- Ethereum price increased steadily above the $2,365 zone.
- ETH is trading above $2,350 and the 100-hourly Simple Moving Average.
- A bullish trend line is forming with support at $2,350 on the hourly chart of ETH/USD.
- Immediate resistance levels are near $2,380 and $2,400, with major resistance at $2,420.
- If Ethereum fails to clear the $2,400 resistance, it could correct downward to initial support at $2,350 and major support at $2,330.
Ethereum’s price has shown a steady increase above key support levels and is currently consolidating gains just below significant resistance points near $2,400. Maintaining momentum above these levels could lead to further gains toward higher resistance zones.
The current bullish trend suggests that if Ethereum remains above its immediate supports around $2,350 and clears the key resistance of $2,400, it may aim for further upward movement in the coming days. (Source)
