Ethereum Price Consolidates Above $2,020 with Key Support at $2,010

Ethereum (ETH) is currently experiencing a recovery wave, trading above the $2,020 level. Key points include:

ETH started recovering above $2,020 and is consolidating.
The price remains above $2,025 and the 100-hourly Simple Moving Average.
A bullish trend line supports at $2,010 on the hourly chart.
Resistance levels to watch are at $2,075 and $2,100 for further upward movement.

Current Price Action

After forming a base above $1,880, ETH surpassed resistances at $1,950 and $1,980, reaching a high of $2,104 before correcting lower. The price is now facing resistance around $2,075, with significant resistance at $2,150 and potential gains towards $2,200 if these levels are cleared.

Potential Downside Risks

If ETH does not break above $2,100, it may decline. Initial support is near $2,045, followed by major support at $2,020. A drop below $2,020 could lead to further losses towards $2,010 or $1,965.

Technical indicators show the MACD losing momentum in the bullish zone, while the RSI is below 50.

Major Support Level – $2,010

Major Resistance Level – $2,100