Ethereum Price Holds $2,640 Support as Bulls Eye $2,700 Breakout
- ETH holds above $2,640 as traders monitor the $2,700 resistance.
- RSI at 63 shows positive momentum without reaching overbought territory.
- Ali Charts identifies $2,700 as the key lower-timeframe breakout level.
Ethereum price action remains firm above $2,640 as traders monitor a potential breakout toward $2,700. Ali Charts said ETH appears to be forming a bull flag on lower timeframes.
He identified $2,640 as key support and $2,700 as the immediate level to watch. An hourly close above $2,700 could open the door toward $3,000, according to his analysis.
Ethereum Price Holds Key Support After Recent Liquidations
Ethereum price has remained above several major exponential moving averages on the daily timeframe. The EMA cluster currently ranges from about $2,314 to $2,605, keeping the broader structure supported.
ETH also recorded $89.5 million in liquidations over the past 24 hours. Long positions accounted for $55.5 million of those liquidations, according to Coinglass data.
The 14-day RSI stands at 63, while the Stochastic Oscillator remains near 73. Both indicators show positive momentum after retreating from earlier overbought conditions.
Immediate support sits near $2,626, with the 20-day EMA around $2,605 providing another technical reference. Deeper support levels remain near $2,544 and $2,432.
Ethereum Price Faces $2,786 Resistance Above $2,700
Ethereum price faces several resistance levels as traders assess whether momentum can continue. The first major barrier stands near $2,786, followed by resistance around $2,894.
A daily close above $2,786 would place $3,177 among the higher resistance levels identified in the technical setup. However, failure to clear resistance could send ETH back toward its nearby support zones.
Ali Charts is watching $2,700 closely on the lower timeframes. His analysis states that an hourly close above that level could confirm the bull-flag breakout.
For now, Ethereum price remains positioned between key support and resistance areas. Holding $2,640 keeps the immediate structure intact, while $2,700 remains the next closely watched level.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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