Ethereum recovery is stalling: ETH is trading above $2,140 and the 100-hour SMA after clearing the 38.2% Fib; immediate resistance at $2,175 (bearish trendline) and $2,205 (50% Fib), with upside targets $2,250–$2,365. Downside risk if bulls fail to clear resistance: key supports at $2,120, $2,100, $2,065 and $2,020–$2,000 could be tested, impacting short-term token performance. Technicals weakening: hourly MACD losing bullish momentum and RSI below 50 — neutral-to-bearish near-term market impact for crypto traders and DeFi participants.

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Ethereum price started a recovery wave above the $2,120 zone. ETH is now consolidating above $2,140 and is struggling to clear the $2,200 resistance.

Ethereum started a recovery wave above the $2,150 zone.
The price is trading above $2,120 and the 100-hourly Simple Moving Average.
There is a new bearish trend line with forming resistance at $2,175 on the hourly chart of ETH/USD (data feed via Kraken).
The pair could start a fresh decline if it stays below the $2,205 resistance.

Ethereum Price Faces Resistance

Ethereum price managed to stay above $2,050 and started a recovery wave, like Bitcoin. ETH price was able to climb above the $2,080 and $2,120 resistance levels.

The price cleared the 38.2% Fib retracement level of the downward move from the $2,385 swing high to the $2,025 low. However, the bears seem to be active below the $2,200 resistance. There is also a new bearish trend line with forming resistance at $2,175 on the hourly chart of ETH/USD.

Ethereum price is now trading above $2,140 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 $2,175 level and the trend line.

The first key resistance is near the $2,205 level or the 50% Fib retracement level of the downward move from the $2,385 swing high to the $2,025 low.

The next major resistance is near the $2,250 level. A clear move above the $2,250 resistance might send the price toward the $2,300 resistance. An upside break above the $2,300 region might call for more gains in the coming days. In the stated case, Ether could rise toward the $2,345 resistance zone or even $2,365 in the near term.

Another Drop In ETH?

If Ethereum fails to clear the $2,175 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 $2,100 zone.

A clear move below the $2,100 support might push the price toward the $2,065 support. Any more losses might send the price toward the $2,020 region. The main support could be $2,000.

Technical Indicators

Hourly MACD – The MACD for ETH/USD is losing momentum in the bullish zone.

Hourly RSI – The RSI for ETH/USD is now below the 50 zone.

Major Support Level – $2,065

Major Resistance Level – $2,175

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