Ethereum Cracks $2,200 Ceiling as Bulls Dominate Hourly Chart

Ethereum (ETH) made a significant surge yesterday, breaking above $2,200 for the first time in recent sessions. The cryptocurrency cleared multiple resistance levels and formed a bullish trend line on the hourly chart with support at $2,100.

The rally began after ETH pushed through the $2,050 zone, following a broader recovery pattern similar to Bitcoin (BTC). From there, bulls drove the price past the $2,120 resistance and the 76.4% Fibonacci retracement level of the prior decline from $2,209 to $2,062.

The move extended to $2,245, hitting the 1.236 Fibonacci extension of that same downward swing. ETH was last trading above $2,180 and the 100-hourly Simple Moving Average.