Ethereum's value exhibited a consistent upward trend, surpassing the $2,180 resistance and gaining bullish momentum upon closing above $2,200. The price surged beyond $2,300, settling above the 100-hourly Simple Moving Average, reaching a pinnacle at $2,332, and currently undergoing consolidation. Despite a minor bearish wave below $2,300, <a href="https://www.cryptoknowmics.com/news/does-ethereum-offer-profitable-investment-opportunities/">Ethereum</a> remains resilient above $2,240 and the 100-hourly SMA.
<h2>ETH/USD Hourly Chart: Key Levels and Potential Upside</h2>
The hourly chart of ETH/USD reveals a significant rising channel, finding support around $2,275, closely aligned with the 23.6% Fib retracement level of the upward movement from the $1,980 swing low to the $2,332 high.

On the upside, resistance is encountered at $2,320, followed by key barriers at $2,350 and the primary obstacle at $2,400. A decisive breach above $2,400 could propel Ethereum towards $2,500, with additional resistances at $2,520 and the potential for further gains towards $2,580.
<h2>Critical Support Levels and Indicators for ETH/USD Outlook</h2>
Failure to overcome the $2,320 resistance might initiate a fresh decline. Initial support lies around $2,275, or the 100-hourly SMA and the channel trend line. Subsequent significant support levels include $2,165, with the main support near $2,120, corresponding to the 61.8% Fib retracement level. A downside break below $2,120 could trigger another substantial decline, potentially revisiting the $2,000 support level. Technical indicators indicate a waning bullish momentum in the MACD, while the RSI remains above the 50 level, suggesting a generally positive outlook.

Ethereum Price Holds 100 SMA, Awaits Clear Signal

Sonakshi is into the crypto world ever since she heard about it and is pursuing her interest through Cryptoknowmics. She is a sensational poet, technical writer and content strategist.

Ethereum Price Holds 100 SMA, Awaits Clear Signal

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