Ethereum Surges 5% to $1,690, Faces Resistance at $1,660

Ethereum (ETH) has recently shown significant price movements, trading above the $1,625 level and its 100-hour Simple Moving Average (SMA). Over the past 12 hours, ETH has surged past the $1,600 and $1,620 resistance levels, peaking at $1,690 before experiencing a minor market retreat. This upward trend is supported by a strong foundation established by the 100-hourly SMA, which corresponds with the support zone at $1,625 on the hourly scale.

The immediate resistance for ETH is near the $1,660 level, with a more significant hurdle at $1,680. A successful breakout above these resistance levels could potentially drive Ethereum's price to $1,690 and even extend toward $1,750. However, if ETH fails to surpass the $1,660 resistance level, it could enter a new phase of decline. Strong support is present at $1,620, with additional support between $1,620 and $1,610, where the 61.8% Fibonacci retracement barrier from $1,562 to $1,690 exists. A break below $1,610 could direct Ethereum's price toward the $1,575 support level, with subsequent losses potentially carrying it to $1,550.

Market signals indicate cautious expectations, with the ETH/USD hourly MACD diverging from its bullish zone while the RSI indicator sits above level 50, demonstrating market neutrality. Traders are awaiting confirmation through either a clean resistance level breakout or a support zone breakdown to understand the upcoming major price movement. Bulls are watching for an upward breakout that could strengthen the Ethereum trend.

The Ethereum/USDT 5-minute chart on Binance displays price activation of essential horizontal levels that indicator analysis verifies in short-term market directional changes. An intense upward price movement reached the $1,670 level, but its resistance point caused aggressive price reversal. A sharp drop in price began after UTC 11:30 on the 14th, and the MACD death cross indicator validated bearish momentum at the same time. The RSI indicator approached the oversold area around 14:30 UTC, which pointed to diminishing selling force in the market. The price dramatically pushed upwards after striking multiple times at the highly valued horizontal support level around $1,613.

The MACD created a “Golden Cross” at 16:00 UTC, which confirmed the initial price rally’s validity because the recent price boost had lasting strength, not just a temporary dead cat bounce. At this time, the RSI indicator exceeded values within the 40-50 basic zone, indicating bullish market sentiment was rising. Market sources at the $1,648 level demonstrated hesitation and supply pressure because prices failed to overcome this area repeatedly.

The Ethereum analysis shows a Golden Cross on the MACD and rising RSI values. Investors supported increasing price levels through the drawn higher-low trendline extending from 04:30 UTC all the way until 06:30 UTC today as they attempted to break through the $1,648 resistance. The RSI, which stayed above the 48 mark alongside positive MACD readings during this period, strengthened the bull’s attempt to gain control, yet the resistance level remained strong.

The emerging Ethereum trend depends on a clear breakout above current resistance barriers. The price movements on Ethereum’s chart create an ideal situation where fundamental technical elements align to validate support regions while confirming resistance points and sustained movement changes. Double price rejects at $1,648, together with increasing lows, show both possible breakout potential when this threshold breaks and possible reverse action if this benchmark fails to hold. Market participants should maintain a ready state to validate trends by observing a decisive price movement beyond current resistance barriers.