Ethereum Surges Past $2,400, Faces Resistance at $2,550

Ethereum (ETH) has rebounded strongly, surpassing $2,400 after dipping below $2,200. The price action began with a test of the $2,080 zone, followed by a surge past the $2,200 and $2,320 resistance levels. A key bearish trend line was broken at $2,240, propelling ETH above $2,500, peaking at $2,550 before a slight correction. Currently, Ethereum is trading above $2,350 and the 100-hourly Simple Moving Average, facing immediate resistance near $2,500, with a major hurdle at $2,550. A successful breach of $2,550 could drive the price towards $2,650, potentially reaching $2,780 or even $2,850. Conversely, failure to overcome $2,550 might trigger a decline, with initial support at $2,400 and major support at $2,360.