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Ethereum Eyes Key Resistance As Price Reclaims $2,550 – Here Are The Levels To Watch

Ethereum (ETH) has surged 7.5% in the daily timeframe to break above a key resistance level for the first time in weeks. Following its breakout, some analysts forecasted that a retest of the range highs could be around the corner.

On Wednesday, Ethereum jumped over 7% from its local low to the $2,550 mark, setting the stage to reclaim another crucial resistance. The King of Altcoins climbed from the $2,380 support to the $2,585 area, hitting a two-week high.

The cryptocurrency has been trading between the $2,400-$2,800 price range since the early May breakout, but briefly lost this area after failing to hold the $2,550 support two weeks ago.

Ethereum Eyes Key Resistance As Price Reclaims $2,550 – Here Are The Levels To Watch

Ethereum (ETH) has surged 7.5% in the daily timeframe to break above a key resistance level for the first time in weeks. Following its breakout, some analysts forecasted that a retest of the range highs could be around the corner.

On Wednesday, Ethereum jumped over 7% from its local low to the $2,550 mark, setting the stage to reclaim another crucial resistance. The King of Altcoins climbed from the $2,380 support to the $2,585 area, hitting a two-week high.

The cryptocurrency has been trading between the $2,400-$2,800 price range since the early May breakout, but briefly lost this area after failing to hold the $2,550 support two weeks ago.

https://www.newsbtc.com/news/ethereum/ethereum-eyes-key-resistance-as-price-reclaims-2550-here-are-the-levels-to-watch/