Ethereum, one of the most popular blockchain networks, has shown positive signs of recovery in recent price trends. After steadily holding above $1,500, Ethereum’s native asset, ETH, is seeking to consolidate gains. This momentum is encouraging traders and analysts to assess whether further upward movement is on the horizon or if a potential correction could stall its progress.
### Ethereum Price Targets $1,650: A Closer Look
Over the past few sessions, Ethereum’s price displayed resilience after maintaining support above the $1,500 mark. Starting from the $1,550 zone, ETH experienced a steady climb, breaking critical resistance levels at $1,580 and $1,600. These price breaks signaled confidence in ETH’s short-term bullish performance. Technical indicators also reflect strength, as Ethereum is currently trading above the 100-hourly Simple Moving Average (SMA), signaling strong buying power.
A notable milestone was achieved when ETH/USD surpassed a connecting bearish trend line, breaking through the $1,590 resistance point. The move catalyzed additional momentum, leading to a high of $1,644 in recent hourly trading. As per Fibonacci retracement analysis, ETH remains stable above the 23.6% retracement level of the recent upward move from $1,566 to $1,644.
### Key Resistance Levels for Ethereum at $1,650 and Beyond
Ethereum’s upward trajectory hinges on its ability to surpass a cluster of critical resistance levels. Currently, ETH faces significant hurdles around $1,640, with $1,650 acting as the primary resistance zone. If this level is cleared, Ethereum could rally further, with the next targets being $1,680 and $1,720.
An optimistic outlook suggests that an extended bull run could push Ethereum toward the $1,800 resistance zone, potentially testing $1,840 in the near term. Such a breakout would strengthen confidence among traders and reinforce ETH’s position as a top-performing digital asset. Support from increasing market volumes and widespread blockchain adoption is likely to amplify this price action.
| Title | Details |
|---|---|
| Market Cap | $1.2 Trillion |
| Resistance Levels | $1,650, $1,720 |
| Support Levels | $1,580, $1,550 |
### Potential Correction for Ethereum: Key Support Zones
While the current trend favors buyers, Ethereum remains susceptible to downside corrections if it fails to scale past the $1,650 resistance level. In this scenario, an initial pullback to $1,620 could act as the first line of defense for bulls. Further declines might push ETH toward the $1,605 support zone, which coincides with the 50% Fibonacci retracement level of its recent gains.
A breach below $1,605 would likely expose Ethereum to deeper corrections toward $1,580 and possibly $1,550. If ETH fails to hold above the $1,550 threshold, it could signal a broader market downturn, potentially revisiting the psychological $1,500 mark. As always, traders must watch critical technical indicators, including the MACD and RSI, to anticipate near-term action.
### Technical Indicators Signal Mixed Sentiment
Current technical analysis presents a mixed outlook for Ethereum. The hourly Moving Average Convergence Divergence (MACD) remains in bullish territory, signaling momentum in favor of buyers. Additionally, the Relative Strength Index (RSI) for ETH/USD stands above 50, highlighting continued strength.
However, resistance near the $1,650 level presents a psychological and technical barrier. Ethereum’s ability to sustain momentum will largely depend on broader market conditions, investor sentiment, and macroeconomic factors affecting the cryptocurrency ecosystem.
Ethereum has demonstrated impressive resilience in recent sessions, with buyers striving to reclaim higher levels. While the $1,650 resistance remains a key obstacle, the upward momentum suggests room for growth if bulls maintain control. Conversely, failing to clear critical resistance could lead to a healthy correction, allowing the asset to test underlying support zones. Whether ETH continues climbing or experiences a short-term pullback, the asset remains a focal point for investors worldwide. Keep an eye on the charts, as Ethereum navigates its next major move.