BEARISH 📉 : Ethereum struggles below $2,110 resistance amid bearish trend

Ethereum price is showing signs of recovery, trading above $2,000, but faces resistance at $2,120.

  • ETH held above $1,880 and is recovering losses.
  • The price remains below the $2,120 mark and the 100-hour Simple Moving Average.
  • A bearish trend line presents resistance at $2,110 on the hourly ETH/USD chart.
  • If unable to surpass $2,200, another decline is possible.

Resistance and Support Levels

  • Immediate resistance is near $2,110 and the trend line.
  • Key resistance levels are $2,200 and $2,240.
  • A break above $2,240 may push prices to $2,350 or higher, potentially reaching $2,550 or $2,665.
  • Support levels include $2,040 and a significant level at $2,000.
  • A drop below $2,000 could lead to further declines towards $1,880 or $1,750.

Ethereum Price

Technical Indicators

  • MACD: Losing momentum in the bearish zone.
  • RSI: Below the 50 zone.