BULLISH 📈 : Ethereum price rallies over 8% reaching $2,200 milestone

Ethereum's price has increased over 8% recently, surpassing the $2,120 mark. Currently, it is correcting from a high of $2,200 and may dip below $2,100.

ETH started a correction from the $2,200 zone.
The price remains above $2,080 and the 100-hourly SMA.
A bullish trend line with support at $2,020 is forming on the hourly chart of ETH/USD.
If ETH stays below $2,180, a fresh decline could start.

Price Movement

Ethereum surged past the $2,050 resistance, similar to Bitcoin.
The price reached $2,200 before undergoing a downside correction.
Currently trading above $2,080, supported by the trend line at $2,020.

Ethereum Price

If bulls maintain their position above $2,020, the price might rise again.

Immediate resistance is near $2,150.
Key resistances are at $2,180 and $2,200.
A break above $2,200 could push the price towards $2,250 or even $2,320-$2,350.

Potential Downside

If ETH fails to break $2,150, it could decline.
Initial support is around $2,080, with major support at $2,065.
A move below $2,065 might see prices drop to $2,020 or $1,980.
Main support lies at $1,920.

Technical Indicators:

Hourly MACD: Losing momentum in the bullish zone.
Hourly RSI: Above the 50 zone.

Support Level: $2,065

Resistance Level: $2,180