Ethereum’s ETH $1,628.08 Bridged Ether (StarkGate) 4.42% Market capitalization $0.14 billion VOL. 24 hours $0.86 billion price rose by almost 15% to reach $ 1,687. Thus, the digital token has updated its local maximum. This happened after the formation of a price base above $ 1,380 and the subsequent breakout of key resistance levels at $ 1,450 and $ 1,500. The growth was accompanied by a breakout of the bearish trend, which kept the asset at lower positions.
After breaking through the $ 1,550 and $ 1,620 levels, Ethereum is currently trading above $ 1,550 and the 100-hour moving average. The nearest significant barrier to further growth is $ 1,650, which opens up the potential for movement to $ 1,720 and further to $ 1,750. If these limits are overcome, the ETH rate could rise to $ 1,850 or even $ 1,880.
In the event of a correction, the nearest support level is $ 1,615. Next is $ 1,580, which coincides with the 38.2% Fibonacci retracement level of the recent rise. If the decline continues, the $ 1,535−1,480 zone will become important support, which could stop the short-term decline.
Indicators confirm the current upward trend. The MACD is showing an upward trend in the positive zone, and the RSI is above 50, which indicates a buyer’s advantage. These signals indicate the likelihood of further strengthening of Ethereum’s position in the near term.
In general, the technical picture is favorable for continued growth, but the asset remains sensitive to the news background and the dynamics of global markets. Further movements will depend on both the general mood in the crypto market and investor behavior in the coming trading sessions.