Analyzing the $ETH /USDT chart, the current price is $2,576.99, reflecting a 1.01% increase in the past session. The 24-hour high is $2,632.57, and the low is $2,550.03. The 4-hour chart shows a steady upward momentum as Ethereum has climbed from a low of $2,252.39, breaking key resistance levels along the way. However, after touching $2,632.57, the price seems to be consolidating slightly below that peak.
Currently, ETH is facing resistance around the $2,632 level, which is critical to watch for further upward movement. If the price can break and hold above this resistance, the next target could be around $2,650 and beyond. However, if the price fails to break this level, we might see a pullback towards $2,550 or potentially lower, with strong support near $2,512.
For traders, a long position could be considered if the price breaks above $2,632, with targets near $2,650. Conversely, if the price drops below $2,550, short trades might be viable, aiming for the support levels of $2,512 and lower. Monitoring the volume closely is essential to confirm the strength of either a breakout or a retracement in the next trading sessions.
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