- Recently, the $2,750 resistance level has stopped Ethereum in its tracks, as it has rejected the cryptocurrency several times over the past few months.
- An extended price move above $2,750 would signal that the bulls are in charge, whereas a sudden decrease might occur otherwise.
- Macd crossing below, plus a high RSI reading, means that there could be risks despite Ethereum jumping from $1,500 to $2,679.
Ethereum (ETH), at this price of $2,750, continues to be a tough challenge, as it has previously prevented the cryptocurrency from increasing. There have been many moments when Bitcoin tried to break away from this level, but it didn’t. There has been a careful review of whether ETH can keep its current level, as it would support any movement towards growth.
The chart by @ali_charts explains that traders should wait for a decisive breakout before deciding on their next moves. Without breaking $2,750, any short-term profits could be fast to vanish. Should the price movement stall, it might mean that traders fell for a bull trap and had to face quick losses. Ethereum’s upcoming movements will depend on its price point.
Key Downside Support Zones Identified
If Ethereum is turned away from the $2,750 resistance, its price may drop to support levels at $2,500 and $2,380. These levels come from consolidations and substantial recoveries that occurred in these industries before. Ethereum appears to always come back to these points when growth becomes weaker, which could help it minimize a significant drop.
The chances of a correction rise as investors’ confidence lowers or significant economic changes occur. Traders should watch the movements around these supports, since going beyond them can result in more price declines. They provide a set of guidelines for figuring out potential short-term support during times of doubt.
Indicators Show Mixed Momentum Signals
According to the Binance chart, from early 2025 until June 10, Ethereum went from a low of $1,500 to trading close to $2,679. The current RSI number is 61.69, so the price movement is overbought, and this could slow down the market or result in a brief price fall.
Source: Tradingview
At this moment, the MACD is in negative territory at -12.19, demonstrating that investors are still cautious. Still, recent price hikes suggest that an upswing is possibly near. Even with this price increase, signs are warning investors, meaning they should wait for stronger reasons to trade in a certain direction. Since the price of Ethereum is still confined to a range, traders are watching the $2750 level that could decide where the market heads next.
“Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.”
