Ethereum hovers above $2,200 on Thursday, followin
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ETHUSDT
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Ethereum hovers above $2,200 on Thursday, following a 17% rise the previous day. ETH extends a bullish breakout above both the 50-day and 200-day EMAs, $1,900 and $2,108, respectively.
From a technical perspective, the 78.6% Fibonacci retracement, measured over the $2,464 to $1,505 downswing, at $2,259, acts as the immediate resistance. A decisive close above this level could target the $2,464 swing high, followed by the 127.2% extension level at $2,725.
Momentum reinforces the constructive bias, with the RSI near 82 suggesting overbought conditions after a steep advance, while the MACD rising sharply into positive territory hints that buyers still control the near-term trend.
ETH/USDT daily price chart.
On the downside, initial support is seen at the reclaimed 200-day EMA near $2,108 and the 50% retracement at $1,985.
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