Ethereum (ETH) is currently witnessing a resurgence in bullish momentum. As per market data, Ethereum’s price has climbed over $2,095 on Coinbase, eyeing $2,200 as the next target. ETH crossed $2,000 last week too but it was unable to hold above this level. Now it is trying once again to break resistance.

ETH Resurges above $2,000 with a 2,62% Rise over 24 Hours

This is a crucial point for Ethereum as it has recorded a significant 2.62% price rise over the recent twenty-four hours. While Ethereum has now resurged above the $2,067 mark, market onlookers and investors are optimistic about the future price trajectory. Based on this development, $2,200 plays the role of a crucial resistance level and could determine the future performance.

At the moment, Ethereum’s price, which is $2,067, accounts for a 2.62% increase during the 24-hour time. Additionally, over the past seven days, the top altcoin witnessed a 9.75% spike. On the other hand, the 30-day performance of Ethereum ($ETH) shows a staggering 22.45% dip. In this respect, the latest week has been critical in strengthening the investor sentiment and overall price momentum.

Surpassing $2,200 Could Lead to Bull Rally

The market statistics point out that Ethereum is now facing a notable sell wall at the $2,200 mark in the case of Coinbase. This significant resistance region has yet to be hit on OKX or Binance. A sell wall is a big number of sell orders simultaneously standing at a particular price level, developing a hindrance. Hence, the crypto asset must beat this barrier to keep rising. If Ethereum ($ETH) effectively breaks above this point, no prominent resistance levels are present before $3,4000.

Coinbase’s Ethereum/USD 4-hour chart discloses major resistance and support levels. The price is presently struggling against the bottom boundary of the resistance zone at $2,200. Moreover, a robust buying pressure exists around the $1,800-$1,900 range. This suggests the determination of the bulls to sustain the present uptrend.