Ethereum Remains Strong, Why ETH Could Rally Above $2.3K

Ethereum is trading in a positive zone above the $2,150 support zone the 100 hourly SMA against the US Dollar. ETH price is likely to rally if there is a clear break above $2,300.

Ethereum is trading in a positive zone above the $2,100 and $2,150 support levels.
The price is now trading above $2,100 and the 100 hourly simple moving average.
There is a key bullish trend line forming with support near $2,140 on the hourly chart of ETH/USD (data feed via Kraken).
The pair start a fresh rally above $2,300 as long as it is above the $2,000 support zone.

Ethereum Price Is Showing Positive Signs
After forming a base above $2,000, ethereum started a steady increase. ETH broke the $2,200 resistance zone and it settled nicely above the 100 hourly simple moving average.
The price even spiked above the $2,250 resistance level. However, the price seems to be struggling to gain pace above $2,250, similar to bitcoin. A high is formed near $2,285 and ether is now correcting lower. There was a break below the $2,250 and $2,240 levels.
The price is now testing the 50% Fib retracement level of the upward move from the $2,094 swing low to $2,285 high. The next major support is near the $2,165 level.

Source: ETHUSD on TradingView.com
There is also a key bullish trend line forming with support near $2,140 on the hourly chart of ETH/USD. The trend line is close to the 76.4% key bullish trend line forming with support near $2,140 on the hourly chart of ETH/USD. Any more losses might call for a test of the second trend line at $2,070.
More Upsides in ETH?
If Ethereum stays above the $2,150 support zone, there are high chances of a fresh increase. An immediate resistance on the upside is near the $2,250 level.
The main breakout resistance is now forming near the $2,285 and $2,300 levels. A close above the $2,300 level could start a major increase towards the $2,500 level or even $2,550 in the near term
Technical Indicators
Hourly MACD – The MACD for ETH/USD is slowly losing pace in the bullish zone.
Hourly RSI – The RSI for ETH/USD is currently above the 50 level.
Major Support Level – $2,150
Major Resistance Level – $2,300

bitcoin
Bitcoin (BTC) $ 16,439.00
ethereum
Ethereum (ETH) $ 1,216.98
tether
Tether (USDT) $ 1.00
bnb
BNB (BNB) $ 296.54
usd-coin
USD Coin (USDC) $ 1.00
binance-usd
Binance USD (BUSD) $ 1.00
xrp
XRP (XRP) $ 0.395701
dogecoin
Dogecoin (DOGE) $ 0.101844
cardano
Cardano (ADA) $ 0.309346
matic-network
Polygon (MATIC) $ 0.838800
polkadot
Polkadot (DOT) $ 5.33
staked-ether
Lido Staked Ether (STETH) $ 1,199.65
litecoin
Litecoin (LTC) $ 77.00
shiba-inu
Shiba Inu (SHIB) $ 0.000009
dai
Dai (DAI) $ 1.00
okb
OKB (OKB) $ 20.49
tron
TRON (TRX) $ 0.053695
solana
Solana (SOL) $ 13.40
uniswap
Uniswap (UNI) $ 5.44
avalanche-2
Avalanche (AVAX) $ 12.45
chainlink
Chainlink (LINK) $ 7.30
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 16,415.01
leo-token
LEO Token (LEO) $ 3.77
cosmos
Cosmos Hub (ATOM) $ 10.13
ethereum-classic
Ethereum Classic (ETC) $ 19.57
the-open-network
The Open Network (TON) $ 1.71
monero
Monero (XMR) $ 137.86
stellar
Stellar (XLM) $ 0.088421
bitcoin-cash
Bitcoin Cash (BCH) $ 111.33
algorand
Algorand (ALGO) $ 0.239318
quant-network
Quant (QNT) $ 112.94
crypto-com-chain
Cronos (CRO) $ 0.063662
apecoin
ApeCoin (APE) $ 4.08
filecoin
Filecoin (FIL) $ 4.35
vechain
VeChain (VET) $ 0.018568
near
NEAR Protocol (NEAR) $ 1.62
hedera-hashgraph
Hedera (HBAR) $ 0.049146
flow
Flow (FLOW) $ 1.10
internet-computer
Internet Computer (ICP) $ 3.92
frax
Frax (FRAX) $ 0.999747
elrond-erd-2
MultiversX (Elrond) (EGLD) $ 42.36
eos
EOS (EOS) $ 0.918998
terra-luna
Terra Luna Classic (LUNC) $ 0.000159
chain-2
Chain (XCN) $ 0.043812
theta-token
Theta Network (THETA) $ 0.921446
huobi-token
Huobi (HT) $ 6.95
tezos
Tezos (XTZ) $ 0.982817
the-sandbox
The Sandbox (SAND) $ 0.564401
chiliz
Chiliz (CHZ) $ 0.163403
aave
Aave (AAVE) $ 61.22