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Ethereum Surges 10% to $1,872, Eyes $2,000

Coin WorldFriday, May 2, 2025 12:16 am ET
1min read

Ethereum's price has shown significant strength, surging past the $1,750 mark and continuing to rise. The cryptocurrency has managed to stay above the $1,720 level, indicating a bullish trend. Ethereum has climbed above key resistance levels at $1,780 and $1,800, setting the stage for further gains. The price even briefly surpassed $1,850, reaching a high of $1,872 before consolidating.

Currently, Ethereum is trading above $1,800 and the 100-hourly Simple Moving Average. However, it faces resistance near the $1,850 level and a short-term contracting triangle with resistance at $1,860 on the hourly chart. If Ethereum can clear the $1,880 resistance zone, it could potentially aim for the $1,920 and $1,950 resistance levels. A break above $1,950 might push the price towards the $2,000 resistance zone or even $2,050 in the near term.

On the downside, if Ethereum fails to surpass the $1,880 resistance, it could start a fresh decline. Initial support is near the $1,840 level, with the first major support at the $1,800 zone. A clear move below $1,800 could push the price towards the $1,765 support level, and further losses might send it towards the $1,720 support level. The next key support sits at $1,650.

Ask Aime: Could Ethereum continue its surge past $1,850?

Technical indicators suggest a bullish momentum for Ethereum. The MACD for ETH/USD is gaining momentum in the bullish zone, and the RSI for ETH/USD is now above the 50 zone. These indicators support the possibility of further gains for Ethereum in the near term.

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Orgy_for_Chastity
05/02
OMG!🚀 ETH stock went full bull trend! Cashed out $252 gains!
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Disclaimer: the above is a summary showing certain market information. AInvest is not responsible for any data errors, omissions or other information that may be displayed incorrectly as the data is derived from a third party source. Communications displaying market prices, data and other information available in this post are meant for informational purposes only and are not intended as an offer or solicitation for the purchase or sale of any security. Please do your own research when investing. All investments involve risk and the past performance of a security, or financial product does not guarantee future results or returns. Keep in mind that while diversification may help spread risk, it does not assure a profit, or protect against loss in a down market.
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