Ethereum is holding the $2,500 support zone against the US Dollar. ETH price could rise towards the $2,750 level unless there is a move below $2,450. Ethereum managed to stay above the $2,480 and $2,500 support levels. The price is still trading below $2,550 and the 100 hourly simple moving average. There is a key bullish trend line forming with support near $2,500 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a decent increase if there is a clear move above $2,550 and $2,600. Ethereum Price Holds Support Ethereum attempted an upside break above the $2,640 and $2,650 resistance levels. ETH struggled to clear the $2,650 zone and started a downside correction. There was a break below the $2,500 support zone and the 100 hourly simple moving average. Ether price even declined below the 23.6% Fib retracement level of the upward move from the $2,316 swing low to $2,639 high. However, the bulls are now protecting the $2,500 support level. Besides, there is a key bullish trend line forming with support near $2,500 on the hourly chart of ETH/USD. It is consolidating, but it is still trading below $2,550 and the 100 hourly simple moving average. An immediate resistance on the upside is near the $2,540 level and the 100 hourly simple moving average. The first major resistance is near the $2,560 level. A clear move above the $2,560 resistance might start a steady increase. In the stated case, the pair could e...
