Ethereum Surges Past $2,200 on Bullish Trend Line

Ethereum's price broke above $2,200 for the first time in recent sessions after surging more than 8%.

The rally began after Ethereum pushed through the $2,050 zone and cleared multiple resistance levels on its hourly chart.

Support at $2,100 formed a bullish trend line as 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. Ethereum was last trading above $2,180 and the 100-hourly Simple Moving Average.