Ethereum price started a recovery wave above the $2,110 zone. ETH is now 
consolidating and might struggle to continue higher above the $2,150 
resistance. Ethereum started a recovery wave above the $2,120 zone. The price 
is trading below $2,140 and the 100-hourly Simple Moving Average. There was a 
break above a bearish trend line with resistance at $2,110 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 Eyes Recovery Ethereum price 
remained bid above the $2,065 support zone, like Bitcoin. ETH price formed a 
base and started a recovery wave above the $2,080 resistance. The price 
surpassed the 50% Fib retracement level of the downward move from the $2,198 
swing high to the $2,075 swing low. Besides, there was a break above a bearish 
trend line with resistance at $2,110 on the hourly chart of ETH/USD. Ethereum 
price is now trading below $2,150 and the 100-hourly Simple Moving Average. If 
the bulls remain in action above $2,100, the price could attempt another 
increase. Immediate resistance is seen near the $2,140 level. The first key 
resistance is near the $2,150 level or the 61.8% Fib retracement level of the 
downward move from the $2,198 swing high to the $2,075 swing low. The next 
major resistance is near the $2,175 level. A clear move above the $2,175 
resistance might send the price toward the $2,200 resistance. An upside break 
above the $2,200 region might call for more gains in the coming days. In the 
stated case, Ether could rise toward the $2,250 resistance zone or even $2,265 
in the near term. Another Decline In ETH? If Ethereum fails to clear the 
$2,150 resistance, it could start a fresh decline. Initial support on the 
downside is near the $2,120 level. The first major support sits near the 
$2,080 zone. A clear move below the $2,080 support might push the price toward 
the $2,020 support. Any more losses might send the price toward the $2,000 
region. The main support could be $1,940. Technical Indicators Hourly MACD – 
The MACD for ETH/USD is gaining momentum in the bullish zone. Hourly RSI &#8211; The 
RSI for ETH/USD is now above the 50 zone. Major Support Level – $2,050 Major 
Resistance Level – $2,150

Ethereum price started a recovery wave above the $2,110 zone. ETH is now consolidating and might struggle to continue higher above the $2,150 resistance. Ethereum started a recovery wave above the $2,120 zone. The price is trading below $2,140 and the 100-hourly Simple Moving Average. There was a break above a bearish trend line with &#8230;

Ethereum Price Encounters Fresh Resistance, Bulls Lose Some Momentum

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Ethereum Price Encounters Fresh Resistance, Bulls Lose Some Momentum

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