Ethereum Breaks $2,200 as Key Indicators Turn Green

Ethereum's price has experienced a significant surge in recent sessions, breaking above $2,200 for the first time. The cryptocurrency's rally began after clearing multiple resistance levels and forming a bullish trend line on its hourly chart.

The key resistance zone now sits at $2,245, with potential targets including $2,250, $2,280, $2,320, $2,365, and $2,380. If Ethereum fails to clear the $2,250 level, a pullback towards $2,200, then $2,180, and $2,150 is possible.

Technical indicators are reinforcing the bullish case for Ethereum. The hourly MACD is gaining momentum in positive territory, while the RSI has moved above the 50 level, indicating that buying pressure outweighs selling pressure at present.