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Ethereum Price Eyes Bullish Momentum: Is a Breakout Imminent?

Author: Content Editor
The Ethereum price is attempting to rise above $2,300 and gain bullish momentum if it can clear the $2,400 resistance zone. The price has already formed a high at $2,398 and is currently consolidating gains. It is trading above $2,300 and the 100-hourly Simple Moving Average, with a bullish trend line forming at $2,335 as support. On the upside, the price faces hurdles at $2,380 and $2,400, with further resistances at $2,465 and $2,500. If the $2,400 resistance is not cleared, Ethereum could start declining, with initial support at $2,335 and the trend line. Further support levels are at $2,300, $2,240, and $2,150. The MACD indicator is losing momentum in the bullish zone, while the RSI is above the 50 zone.

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