BroadChain, April 27, 12:00, according to NewsBTC, Ethereum price has started a new upward trend after stabilizing above the $2,365 level, currently trading above $2,370 and the 100-hour moving average. The hourly chart shows that ETH/USD broke through the contracting triangle resistance at $2,320, reaching a high of $2,404, and is now in a consolidation phase. If bulls hold the $2,330 support, the price may challenge the $2,400 resistance again, with the next key resistances at $2,420 and $2,450. Breaking above $2,450 could push the price to $2,500, and even further test the $2,550-$2,565 range.
On the downside, if it fails to break above $2,400, Ethereum may see a pullback. Initial support is at $2,345 (Fibonacci 50% retracement level), with major support at $2,330. A break below this level could accelerate the decline to $2,285, or even the $2,250 area. Technical indicators show that the hourly MACD is gaining momentum in the bullish zone, and the RSI is above 50, suggesting a short-term bullish bias.