Ethereum Price Recovery Faces Resistance Near $2,110
Ethereum has established a base above $1,880 and started a recovery, breaking past resistance levels at $1,950 and $1,980. It surpassed the 50% Fibonacci retracement level of the decline from $2,340 to $1,745 and crossed the $2,050 mark. However, the price faces significant resistance near $2,110, where a bearish trend line is present on the hourly chart, and remains below both $2,100 and the 100-hour simple moving average.
Key resistance levels are at $2,200 (76.4% Fib level) and $2,240. A break above $2,240 could push the price toward $2,350, with further potential gains targeting $2,550 or $2,665. If Ethereum fails to overcome the $2,110 resistance, it may decline again, with initial support at $2,040, followed by $2,000. A drop below $2,000 could lead to a test of the $1,880 support, and further losses might bring the price down to the $1,750–$1,720 region.
TheNewsCrypto02/09 06:46