Ethereum price found support at $2,460 and started a fresh increase. ETH is now rising and might aim for a move above the $2,600 resistance zone.

• Ethereum started a decent increase above the $2,500 and $2,520 levels.
• The price is trading above $2,520 and the 100-hourly Simple Moving Average.
• There was a break above a connecting bearish trend line with resistance at $2,540 on the hourly chart of ETH/USD (data feed via Kraken).
• The pair could gain strength if it clears the $2,600 resistance in the near term.

Ethereum Price Finds Support

Ethereum price started a decent increase after Bitcoin traded to a new all-time high. ETH tested the $2,720 zone before there was a downside correction. The price dipped below $2,500 and tested $2,450.

A low was formed at $2,463 and the price is again rising. There was a move above the $2,500 resistance. The price surpassed the 23.6% Fib retracement level of the downward move from the $2,729 swing high to the $2,463 low. There was also a break above a connecting bearish trend line with resistance at $2,540 on the hourly chart of ETH/USD.

Ethereum price is now trading above $2,520 and the 100-hourly Simple Moving Average. On the upside, the price could face resistance near the $2,600 level. It is near the 50% Fib retracement level of the downward move from the $2,729 swing high to the $2,463 low.

The next key resistance is near the $2,630 level. The first major resistance is near the $2,650 level. A clear move above the $2,650 resistance might send the price toward the $2,720 resistance.

An upside break above the $2,720 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $2,800 resistance zone or even $2,850 in the near term.

Are Dips Supported In ETH?

If Ethereum fails to clear the $2,600 resistance, it could start a fresh decline. Initial support on the downside is near the $2,520 level. The first major support sits near the $2,500 zone.

A clear move below the $2,500 support might push the price toward the $2,460 support. Any more losses might send the price toward the $2,420 support level in the near term. The next key support sits at $2,350.

Technical Indicators

Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone.

Hourly RSI – The RSI for ETH/USD is now above the 50 zone.

Major Support Level – $2,500

Major Resistance Level – $2,600

This consolidation phase is a classic sign of a healthy market, as it allows the asset to catch its breath after a significant upward move. It also suggests that the breakout was backed by genuine buying pressure rather than short-term speculation. With the $605 level now acting as a springboard, the stage is set for BNB to target higher price levels in the coming days or weeks.

BNB Price Action: Stability Above $605 Signals Strength

BNB’s ability to hold above the $605 resistance level after breaking through reflects growing bullish momentum. Its stability indicates that buyers are defending the breakout level, reinforcing its significance as a new support zone. Sustained trading above this level could pave the way for further gains toward targets near $630 and $650.

Technical indicators reinforce the strength of BNB’s breakout, signaling that bullish momentum remains intact. The MACD continues to trend in positive territory, with the MACD line staying above the signal line. This positioning suggests that buying pressure remains dominant, and the possibility of further gains remains strong. Additionally, the histogram bars are expanding, reflecting increasing bullish momentum.

Furthermore, the 100-day Simple Moving Average (SMA) acts as dynamic support, with BNB trading above it, which implies that the broader trend remains bullish, and any dips toward this level could present buying opportunities. 

If BNB maintains its momentum, it could target $680, strengthening its bullish outlook. A breakout above the level may attract more buyers, increasing the chances of a sustained rally. Presently, the $680 serves as a key resistance, and clearing it with strong volume is likely to spark a move to $724 in the medium term.

Support Zones To Watch In Case Of A Pullback

If BNB experiences a pullback, the $605 level will be the first key support to watch, as it has flipped from resistance to support. Holding this level could reinforce bullish momentum and signal that buyers are defending the breakout. 

However, if selling pressure increases and $605 fails to hold, the $531 demand zone comes into play, which has historically provided strong support. A rebound from this level would indicate buyer strength, but a break below will expose BNB to more downside before another bullish attempt. An extended correction could bring $500 into focus, which aligns with the 100-day SMA and has previously served as a significant pivot point for price rebounds.