Ethereum Surges 2.5% to $2,520, Faces Resistance at $2,550

Generated by AI AgentCoin World
Monday, Jul 7, 2025 11:22 pm ET1min read
ETH
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Ethereum's price has recently surged past the $2,520 mark, indicating a potential for further upward movement. The cryptocurrency has shown resilience, trading below $2,550 and the 100-hourly Simple Moving Average. A key bullish trend line is forming with support at $2,530 on the hourly chart of ETH/USD, suggesting that

Ethereum
could initiate a fresh increase if it maintains support above the $2,520 zone in the near term.

Ethereum's price has revisited the support level after a recent increase above the $2,550 zone. The bulls pushed the price above the 61.8% Fib retracement level of the downward move from the $2,636 swing high to the $2,475 low. However, the bears remained active near the $2,600 resistance zone, preventing further gains. The price faced rejection near the 76.4% Fib retracement level of the same downward move, and Ethereum is now trading below $2,550 and the 100-hourly Simple Moving Average.

Ethereum is currently testing the $2,520 support level. On the upside, the price could face resistance near the $2,550 level, with the next key resistance near the $2,580 level. A clear move above the $2,600 resistance might send the price toward the $2,650 resistance. An upside break above the $2,650 resistance might call for more gains in the coming sessions, with Ether potentially rising toward the $2,720 resistance zone or even $2,800 in the near term.

If Ethereum fails to clear the $2,580 resistance, it could start a fresh decline. Initial support on the downside is near the $2,520 level, with the first major support sitting near the $2,500 zone. A clear move below the $2,500 support might push the price toward the $2,450 support. Any more losses might send the price toward the $2,350 support level in the near term, with the next key support sitting at $2,320.

Technical indicators suggest that the MACD for ETH/USD is gaining momentum in the bearish zone, while the RSI for ETH/USD is now below the 50 zone. The major support level is at $2,520, with the major resistance level at $2,600. These indicators suggest that Ethereum's price is currently in a bearish zone, but the formation of a key bullish trend line indicates potential for a fresh move higher if support levels hold.