Ethereum extended its decline below $2,200 and $2,120 before rebounding from an intraday low near $2,073. The recovery remains fragile, with ETH trading under the 100-hour simple moving average and facing layered resistance between $2,200 and $2,250. A failure to reclaim higher ground could leave the market vulnerable to renewed losses below $2,100.
Price Overview
ETH/USD fell after failing to hold above $2,250, mirroring broader weakness across major cryptocurrencies. The drop pushed price action decisively into a bearish zone below $2,200, with a low recorded around $2,073. While buyers lifted the pair back above $2,120, the rebound has so far stalled beneath the 23.6% Fibonacci retracement of the decline from the $3,040 swing high to the $2,073 low.
On the hourly chart (Kraken data), Ethereum continues to trade below the 100-hour simple moving average. A major bearish trend line is forming with resistance near $2,255, underscoring supply pressure on attempts to recover.
Key Levels to Watch
- Immediate resistance: $2,200
- Primary resistance cluster: $2,250 (trend line), then $2,390
- Higher targets on a breakout: $2,550 (around the 50% Fib retracement of the $3,040 to $2,073 move), followed by $2,650–$2,665
- Initial support: $2,100
- Major support: $2,075; below that, $2,050 and $2,000
- Deeper support zone: $1,880 if selling accelerates
Analysts note that staying below the $2,320 area keeps risks tilted toward the downside. A decisive move above $2,390–$2,550 would be needed to shift momentum back in favor of the bulls.
Technical Indicators
- MACD (hourly): Gaining bearish momentum for ETH/USD.
- RSI (hourly): Below 50, indicating weak momentum.
Market Context
Ethereum is the second-largest blockchain by market capitalization and the leading smart contracts platform. Its price action often influences broader altcoin sentiment. With ETH below trend resistance and key moving averages, short-term direction will likely hinge on whether bulls can reclaim the $2,250–$2,390 band or whether sellers press price back toward $2,075 and the $2,000 psychological level.