Ethereum Price Pressured at $2,150, Bulls Fight to Clear Hurdle

The pair could start a fresh decline if it stays below the 2,150 resistance. Ethereum Price Faces Rejection Ethereum price extended its recovery wave above 2,020, beating Bitcoin. ETH price was able to surpass the 2,050 and 2,065 resistance levels. The bulls pushed the price above the 61.8 Fib retracement level of the downward move from the 2,198 swing high to the 1,936 low. However, the bears remained active near the 2,150 resistance zone. The price reacted to the downside below 2,120. There was a break below a short-term contracting triangle with support at 2,135 on the hourly chart of ETH/USD. Ethereum price is now trading above 2,050 and the 100-hourly Simple Moving Average. If the bulls remain in action above 2,050, the price could attempt another increase. Immediate resistance is seen near the 2,120 level. The first key resistance is near the 2,150 level or the 83.2 Fib retracement level of the downward move from the 2,198 swing high to the 1,936 low. The next major resistance is near the 2,200 level. A clear move above the 2,200 resistance might send the price toward the 2,250 resistance. An upside break above the 2,250 region might call for more gains in the coming days. In the stated case, Ether could rise toward the 2,320 resistance zone or even 2,350 in the near term. More Losses 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 2,080 level. The first major support sits near the 2,050 zone. A clear move below the 2,050 support might push the price toward the 2,000 support. Any more losses might send the price toward the 1,965 region. The main support could be 1,920. 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