Ethereum Price Hinges on Weekly Close Above $2,550 Amid US PPI Forecasts

Ethereum's price needs to close above $2,550 this week to support another upward leg, according to analyst Ted Pillows. He identified a weekly range of $2,450-$2,550 that has contained ETH for several weeks and requires a weekly close above the upper boundary to confirm another leg higher.

Pillows' analysis shows resistance near $2,547, with the 50-week simple moving average sitting just below at $2,511. The exponential average offers dynamic support at $2,381, while Pillows marks broader downside support near $2,215 and $1,965 as potential levels if selling pressure increases.

Analyst Axel Bitblaze focuses on ETH trading between the 50-week and 100-week exponential moving averages, comparing the developing setup with an earlier formation involving those same weekly indicators. He expects additional volatility and sideways movement before a sharp move develops.