Ethereum Price Drops to $2,100, Shaking Confidence Amid Volatility

Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing How Our News is Made Strict editorial policy that focuses on accuracy, relevance, and impartiality Ad discliamer Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. Ethereum price started a sharp decline from the $2,385 zone. ETH is now consolidating above $2,100 and might aim for a recovery wave if it climbs above $2,200. Ethereum started a sharp decline below the $2,320 zone. The price is trading below $2,250 and the 100-hourly Simple Moving Average. There was a break below a major bullish trend line with support at $2,160 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to move up if it clears the $2,200 zone. Ethereum Price Takes Hit Ethereum price failed to stay above $2,320 and started a fresh decline, like Bitcoin . ETH price declined below $2,250 and $2,200 to enter a short-term bearish zone. There was a break below a major bullish trend line with support at $2,160 on the hourly chart of ETH/USD. The pair even spiked below $2,120. A low was formed at $2,100, and the price is now consolidating losses below the 23.6% Fib retracement level of the recent decline from the $2,385 swing high to the $2,100 low. Ethereum price is now trading below $2,200 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 $2,165 level. The first key resistance is near the $2,200 level and the 100-hourly Simple Moving Average. The next major resistance is near the $2,240 level or the 50% Fib retracement level of the recent decline from the $2,385 swing high to the $2,100 low. Source: ETHUSD on TradingView.com A clear move above the $2,240 resistance might send the price toward the $2,275 resistance. An upside break above the $2,275 region might call for more gains in the coming days. In the stated case, Ether could rise toward the $2,320 resistance zone or even $2,385 in the near term. More Losses In ETH? If Ethereum fails to clear the $2,200 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 $2,060 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 bearish zone. Hourly RSI – The RSI for ETH/USD is now below the 50 zone. Major Support Level – $2,120 Major Resistance Level – $2,200