ETH Just Cleared Key Resistance – What's Next?

Ethereum has just broken through a critical resistance level, signaling potential upside momentum. Current price stands at $2,050, up 0.12% in the past hour, indicating early bullish interest in the market.

Technical Setup & Entry Point

The hourly charts are displaying strong bullish formations. Traders are eyeing an entry zone around $2,335, where buyers could initiate positions before the next leg up. A decisive close above this level would validate the breakout and potentially ignite a rally toward the first target zone.

Price Targets in Focus

Short-term, watch for $2,400 as the initial profit-taking level – a natural resistance zone that often attracts selling pressure. Beyond that, $2,500 emerges as a secondary target where further consolidation might occur before attempting higher levels. Looking longer-term, a break above $2,500 could set the stage for extended gains toward $2,600 or beyond.

Support & Risk Management

For risk management, the stop-loss sits at $2,222 – a level where a close below would invalidate the bullish thesis and trigger a more significant pullback. On the weekly timeframe, watch $2,152 carefully; a strong close here signals strength that could fuel a push toward $2,600.

Trading Considerations

While the technical setup looks constructive, remember that trading carries inherent risks. Position sizing and proper risk management are crucial before entering any trade. The current breakout just provides opportunity, but execution and discipline determine results.