Ethereum Price Rally Meets Resistance, Bears Eye Renewed Downside Move
Ethereum price started a recovery wave from the $2,025 zone. ETH is now consolidating above $2,120 and might struggle to clear the $2,200 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 $2,350 resistance zone or even $2,400 in the near term. If Ethereum fails to clear the $2,165 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 $2,065 zone. A clear move below the $2,065 support might push the price toward the $2,025 support. Any more losses might send the price toward the $2,000 region. The main support could be $1,940. 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 above the 50 zone. Major Support Level – $2,065 Major Resistance Level – $2,165Another Decline In ETH?
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