Ethereum, that rather finicky darling of the digital world, has graced us with another recovery wave, hovering flirtatiously above the $2,000 mark. Yet, the charming ETH finds itself in a bit of a tussle, resisting the allure of the $2,100 resistance.
- Ethereum, with all the grace of a debutante, has started a recovery wave above the $2,000 level.
- The price, as if playing a game of hide and seek, is trading above $2,020 and the 100-hourly Simple Moving Average.
- A connecting bullish trend line, as delicate as a spider’s web, is forming with support at $2,000 on the hourly chart of ETH/USD (data feed via Kraken).
- The pair must, like a knight in shining armor, clear the $2,080 and $2,100 resistance levels to start a decent increase.
Ethereum price, much like a true romantic, formed a base above the $1,850 level and started a recovery wave, much to the delight of Bitcoin. ETH, with its usual vigor, was able to clear the $1,920 and $1,950 resistance levels.
The bulls, as gallant as ever, pushed the price above the $2,000 level. Finally, the price, like a lover caught in the act, tested the $2,100 zone. A high was formed at $2,104, and the price, as expected, started a downside correction. There was a move below the $2,080 level. The price dipped below the 23.6% Fib retracement level of the upward move from the $1,980 swing low to the $2,104 high.
Ethereum price is now trading above $2,020 and the 100-hourly Simple Moving Average. There is also a connecting bullish trend line, as steady as a heartbeat, forming with support at $2,000 on the hourly chart of ETH/USD.
On the upside, the price, much like a suitor at a ball, seems to be facing hurdles near the $2,080 level. The next key resistance is near the $2,100 level. The first major resistance is near the $2,120 level. A clear move above the $2,120 resistance might send the price, as if on a beam of light, toward the $2,200 resistance.
An upside break above the $2,200 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $2,250 resistance zone or even $2,320 in the near term.
Are Dips Supported In ETH?
If Ethereum, much like a fickle heart, fails to clear the $2,100 resistance, it could start another decline. Initial support on the downside is near the $2,040 level. The first major support sits near the $2,025 zone and the 61.8% Fib retracement level of the upward move from the $1,980 swing low to the $2,104 high.
A clear move below the $2,025 support might push the price, like a knight fallen from grace, toward the $2,000 support. Any more losses might send the price toward the $1,950 support level in the near term. The next key support sits at $1,880.
Technical Indicators
Hourly MACD – The MACD for ETH/USD is losing momentum in the bullish zone, as if it’s losing its dance partner.
Hourly RSI – The RSI for ETH/USD is now below the 50 zone, as if it’s been left out in the cold.
Major Support Level – $2,000
Major Resistance Level – $2,100
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2025-03-25 06:43