Ethereum Faces Resistance at $2,150 Amid Recovery Efforts
- Ethereum initiated a recovery wave from the $2,075 zone.
- The price is trading below $2,120 and the 100-hourly Simple Moving Average.
- A bearish trend line forms resistance at $2,120 on the hourly chart of ETH/USD.
- Immediate resistance is near $2,120, with key resistance around $2,150.
- Failure to clear the $2,150 resistance could lead to a decline toward the $2,075 support zone.
Ethereum’s price faces significant hurdles as it attempts to rise above the $2,150 mark after initiating a recovery from the $2,075 zone. The presence of a bearish trend and trading below key moving averages suggests that further gains may be challenging without overcoming current resistances.
If Ethereum fails to break through the immediate resistance levels of $2,120 and $2,150, it risks declining back toward its support zones around $2,085 and potentially lower to $2,020 or even further down to main support at approximately $1,940. Source
