The price of Ethereum showed a fresh surge over the $2,065 resistance, similar to Bitcoin. The price of ETH rallied over the $2,120 and $2,150 resistance levels. The bulls also pushed the price to surpass $2,180.
A high was made at $2,200 before showing a downside correction. The price slipped down to $2,120 and tested the 50% Fib retracement level of the upward move from the $1,929 swing low to the $2,200 high.
At the time of writing, the price of ETH is trading over $2,077 and the 100-hour simple moving average. There is also a prominent bullish trend line with support at $2,030 on the hourly chart of ETH/USD.
If the bulls still stay in action over $2,030, the price could try one more increase. A quick resistance is witnessed around the $2,100 level. The first key resistance hovers around the $2,135 level, and the next key resistance sits around the $2,150 level.
The resistance and the support levels
A clear shift over the $2,150 resistance might send the price toward the $2,200 resistance. An upside break over the $2,200 region may captivate further gains in the near future. In the mentioned situation, Ether could increase toward the $2,250 resistance zone or even $2,320 in the coming days.
If Ethereum isn’t able to clear the $2,135 resistance, it could witness a fresh decline. The starting support is on the downside in around the $2,065 level. The first prominent support sits around the $2,030 zone, the trend line, and the 61.8% Fib retracement level of the upward move from the $1,929 swing low to the $2,200 high.
A clear move down the $2,030 support might take the price toward the $2,000 support. Posing any further loss may take the price to the $1,965 region. The main support could be $1,920.
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