Ethereum Faces Resistance at $2,090 Amid Recovery Efforts
- Ethereum price began a recovery wave above the $2,000 mark.
- ETH is trading above $2,020 and the 100-hourly Simple Moving Average.
- Resistance is noted at $2,090, with further resistance levels at $2,150 and $2,220.
- Support levels are identified at $2,020 and $1,990.
- The hourly MACD for ETH/USD shows momentum in the bearish zone.
Ethereum’s price recovery above the $2,000 zone faces hurdles as it struggles to surpass the critical resistance level of $2,090. The presence of an expanding triangle with support at $2,020 could influence future price movements.
A failure to clear the immediate resistance may lead to a decline towards major support levels near $1,990 or even lower if bearish trends continue. (Source)
