Ethereum Bounces Back—But Can It Hold?
Ethereum’s price is on the move again, climbing back from a recent dip below $2,120. Over the past day or so, ETH has gained more than 8%, pushing past $2,250 and showing signs of life after a sluggish stretch. It’s not exactly a runaway rally, but for traders watching the charts, it’s something.
The jump didn’t happen out of nowhere. ETH managed to break through a stubborn bearish trendline that had been holding it back around $2,240. That’s a small win, but in crypto, these little breaks can sometimes snowball. Right now, the price is hovering above the 100-hour moving average, which usually signals at least short-term optimism.
Where’s the Next Hurdle?
If Ethereum keeps climbing, the first real test will be around $2,460. That’s where things could get tricky—it’s not just a psychological barrier but also lines up with a key Fibonacci retracement level from the recent drop. If ETH punches through, the next targets are $2,500 and then maybe $2,550. Beyond that? Well, $2,650 isn’t out of the question if the momentum holds.
But here’s the thing: crypto moves fast, and nothing’s guaranteed. The same indicators suggesting upside now could flip in a matter of hours. The MACD, for instance, is still bullish but losing steam, and the RSI is hovering just above neutral. Not exactly screaming “buy.”
What If the Rally Fizzles?
If ETH can’t crack $2,460, we might see another slide. The first safety net sits around $2,340, followed by $2,320. If those give way, things could get messy fast—$2,250 is the next stop, and a drop below that might send ETH tumbling back toward $2,120.
It’s worth remembering that Ethereum’s moves often mirror Bitcoin’s, and right now, BTC is also testing resistance levels. So, if Bitcoin stumbles, ETH probably won’t stay upright for long.
For now, traders seem cautiously optimistic. But in a market this volatile, “cautious” is the key word. One strong push could open the door to bigger gains, while a rejection at resistance might mean another trip downhill. Either way, it’s probably not going to be boring.
