Ethereum’s price has begun to rise, moving above $2,100. It’s currently stabilizing, but may face difficulties breaking past the $2,150 resistance level.
- Ethereum started a recovery wave from the $2,075 zone.
- The price is trading below $2,120 and the 100-hourly Simple Moving Average.
- There is a bearish trend line forming with resistance at $2,120 on the hourly chart of ETH/USD (data feed via Kraken).
- The pair could start a fresh decline if it stays below the $2,150 zone.
Ethereum Price Faces Hurdles
Similar to Bitcoin, Ethereum’s price stayed above the $2,050 support level. After establishing a base, the price of ETH began to rise, breaking through the $2,065 resistance.
The price went above a key technical level, specifically the 38.2% Fibonacci retracement of the recent drop from $2,197 to $2,075. Buyers attempted to push the price up to $2,150, but sellers stepped in to prevent further gains. Additionally, a downward trend line is developing, creating resistance around $2,120 on the hourly chart.
Ethereum’s price has fallen below $2,120 and is currently trading under its 100-hour moving average. If the price stays above $2,075, it might try to rise again. Initial resistance can be expected around $2,120, with a major resistance level near $2,150. This $2,150 level also corresponds to a 61.8% retracement of the recent price drop from $2,197 to $2,075.
The price is currently facing resistance around $2,200. If it breaks above this level, it could climb towards $2,220, potentially leading to further gains in the coming days. If the price surpasses $2,220, it might reach resistance levels of $2,300 or even $2,315 soon.
More Losses In ETH?
If Ethereum doesn’t break past the $2,150 level, its price might start to fall. It could find some support around $2,085, with stronger support expected near $2,075.
If the price falls below $2,075, it could drop to $2,020, and potentially even further to around $2,000. A key support level to watch is $1,940.
Technical Indicators
Hourly MACD – The MACD for ETH/USD is gaining momentum in the bearish zone.
Hourly RSI – The RSI for ETH/USD is now below the 50 zone.
Major Support Level – $2,050
Major Resistance Level – $2,150
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2026-05-20 06:06