Ethereum extended its recovery this week, pushing above $2,365 and hitting a high of $2,398 before pulling back slightly. The second-largest crypto by market cap is now consolidating above $2,350, with traders watching the $2,400 level as the next big test.
Price action and resistance levels
ETH/USD on Kraken has formed a bullish trend line with support at $2,350 on the hourly chart. Price is trading above the 100-hourly simple moving average, and the immediate resistance sits near $2,380. A clean break above $2,400 could open the door to $2,420 and then $2,500. If that level gives way, $2,550 and $2,565 are next.
Support levels to watch
If Ethereum fails to clear $2,400, a downside correction is possible. Initial support sits around $2,350 and the trend line. Below that, $2,330 is the first major floor. A close below $2,330 could drive price to $2,310 — roughly the 50% Fibonacci retracement of the recent upswing. Further losses might take ETH to $2,285, with major support at $2,250.
Technical indicators
The hourly MACD is gaining momentum in bullish territory, and the hourly RSI remains above 50. That suggests buyers still have control for now. The key question is whether the $2,400 resistance holds or gives way. A decisive move above $2,420 would likely accelerate buying pressure toward $2,500 and beyond.
