TA: Ethereum Aims Key Upside Break, What Could Stop Recovery

Ethereum is recovering losses above $2,400 against the US Dollar. ETH price is rising, but it must clear $2,550 for a steady increase. Ethereum is slowly moving higher towards the $2,500 and $2,550 resistance levels. The price is trading below $2,500 and the 100 hourly simple moving average. There was a move above a major bearish trend line with resistance near $2,500 on the hourly chart of ETH/USD (data feed via Kraken). The pair could rise steadily if there is a clear move above the $2,550 resistance zone. Ethereum Price Faces Resistance Ethereum found support near $2,150 and started a decent recovery wave. ETH was able to climb above the $2,250 and $2,350 resistance levels. There was a clear move above the 23.6% Fib retracement level of the recent decline from the $2,547 swing high to $2,160 low. Besides, there was a move above a major bearish trend line with resistance near $2,500 on the hourly chart of ETH/USD. The pair is still trading below $2,500 and the 100 hourly simple moving average. An immediate resistance on the upside is near the $2,500 level. The first major resistance is near the $2,550 level. A clear move above the $2,550 resistance might start a steady increase. In the stated case, the pair could rise towards the $2,720 level. It is near the 50% Fib retracement level of the recent decline from the $2,547 swing high to $2,160 low. Source: ETHUSD on TradingView.com If there is an upside break above $2,720 resi...