Ethereum slipped below $2,250 in a fresh pullback and is consolidating above $2,175, with recovery attempts facing overhead resistance. The move mirrors broader market softness, as Ether trades beneath key short-term averages and a broken intraday trend line.
Market overview
ETH/USD extended a downside correction from the $2,330 area, breaking below $2,220 and the 100-hour Simple Moving Average. An intraday bullish trend line near $2,210 gave way on the hourly chart, sending the pair to a low around $2,176. Price action is now holding above $2,175 but remains capped below the 23.6% Fibonacci retracement level of the $2,329–$2,175 decline.
Key levels to watch
- Immediate resistance: $2,210
- Key resistance: $2,235
- Stronger resistance zone: $2,250 (near the 50% Fib of $2,329–$2,175), followed by $2,290
- Upside targets on a breakout: $2,320 and $2,350
- Initial support: $2,175
- Major support: $2,140
- Further downside levels: $2,110, $2,060, and $2,020
Momentum and indicators
- The 100-hour SMA sits overhead, reinforcing resistance near $2,220–$2,250.
- The hourly MACD is gaining momentum in the bearish zone.
- The hourly RSI remains below 50, indicating weak short-term momentum.
Price outlook
A sustained move above $2,235–$2,250 would be needed to shift near-term momentum back to the upside and open a run toward $2,290 and potentially $2,320–$2,350. Failure to clear $2,235 could invite renewed selling, with $2,175 as the first line of defense. A break below $2,140 would increase the risk of a deeper pullback toward $2,110 and $2,060.