Ethereum Price Consolidation Signals Potential Surge

Ethereum Price Consolidates Below Key Resistance Levels

• Ethereum price tested and remained supported above the $1,980 level.
• The price is currently trading below $2,040 and the 100-hourly Simple Moving Average.
• A bearish trend line is forming with resistance at $2,050 on the hourly chart of ETH/USD.
• The major resistance levels are at $2,050 and $2,100.
• If Ethereum clears the $2,100 resistance, it could rise towards the $2,150 level or higher.

Ethereum’s price needs to surpass the critical resistance levels of $2,050 and $2,100 to initiate a significant upward movement. Failure to do so may result in further declines below the current support levels.