Ethereum Price Faces Downside Risk, Bears Prepare for Fresh Move
Analysis
Price Impact
MedThe article suggests eth is facing resistance at key levels ($2,175 and $2,205) and could see a fresh decline if it fails to break through. however, it also notes potential for further gains if it can surpass $2,250 and $2,300.
Trustworthiness
HighPrice Direction
NeutralThe article presents both bullish and bearish scenarios. it highlights the immediate downside risk if key resistance levels are not broken, but also outlines potential upside targets if these levels are overcome.
Time Effect
ShortThe analysis focuses on immediate price action and short-term resistance/support levels, suggesting implications for the near future rather than long-term trends.
Original Article:
Article Content:
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 recovery wave above the $2,120 zone. ETH is now consolidating above $2,140 and is struggling to clear the $2,200 resistance. Ethereum started a recovery wave above the $2,150 zone. The price is trading above $2,120 and the 100-hourly Simple Moving Average. There is a new bearish trend line with forming resistance at $2,175 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a fresh decline if it stays below the $2,205 resistance. Ethereum Price Faces Resistance Ethereum price managed to stay above $2,050 and started a recovery wave, like Bitcoin . ETH price was able to climb above the $2,080 and $2,120 resistance levels. The price cleared the 38.2% Fib retracement level of the downward move from the $2,385 swing high to the $2,025 low. However, the bears seem to be active below the $2,200 resistance. There is also a new bearish trend line with forming resistance at $2,175 on the hourly chart of ETH/USD. Ethereum price is now trading above $2,140 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 $2,175 level and the trend line. The first key resistance is near the $2,205 level or the 50% Fib retracement level of the downward move from the $2,385 swing high to the $2,025 low. Source: ETHUSD on TradingView.com The next major resistance is near the $2,250 level. A clear move above the $2,250 resistance might send the price toward the $2,300 resistance. An upside break above the $2,300 region might call for more gains in the coming days. In the stated case, Ether could rise toward the $2,345 resistance zone or even $2,365 in the near term. Another Drop In ETH? If Ethereum fails to clear the $2,175 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 $2,065 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 bullish zone. Hourly RSI – The RSI for ETH/USD is now below the 50 zone. Major Support Level – $2,065 Major Resistance Level – $2,175