Ethereum Price Recovers Above $2,000 Amid Resistance at $2,100
Ethereum Price Update
- Ethereum is recovering above $2,000, facing resistance near $2,100.
- Current trading price is above $2,020 and the 100-hourly Simple Moving Average.
- A bullish trend line forms with support at $2,000 on the hourly chart.
- Resistance levels to watch are $2,080 and $2,100; a break above $2,120 may lead to further gains.
Price Movements
Ethereum formed a base above $1,850 and cleared resistances at $1,920 and $1,950. A peak was reached at $2,104 before a correction occurred, dropping below $2,080 and the 23.6% Fibonacci retracement level.
If ETH fails to breach $2,100, it could decline towards initial support around $2,040, with further supports at $2,025 and $2,000. Losses may extend to $1,950 and $1,880.
Technical Indicators
- MACD for ETH/USD shows decreasing bullish momentum.
- RSI is currently below the 50 mark.
- Major Support Level is at $2,000.
- Major Resistance Level is at $2,100.