Ethereum

Ethereum Topside Bias Vulnerable If It Continues To Struggle Below $2.2K

Ethereum is attempting a decent recovery wave above $2,100 against the US Dollar. ETH price could gain momentum if it settles above the $2,200 resistance zone.

Ethereum is slowly moving higher above the $2,100 resistance zone.
The price is now trading near the $2,150 resistance and the 100 hourly simple moving average.
There was a break above a key bearish trend line with resistance near $2,100 on the hourly chart of ETH/USD (data feed via Kraken).
The pair must settle above $2,180 and $2,200 to start a steady increase in the near term.

Ethereum Price Is Facing Hurdles
There was a fresh decline in ethereum below the $2,120 support zone. However, ETH remained well bid above the $2,050 support zone. A low is formed near $2,050 before the price started a fresh increase, similar to bitcoin.
The price recovered above the $2,100 and $2,120 resistance levels. Ether even climbed above the 23.6% Fib retracement level of the key decline from the $2,405 swing high to $2,049 low. it is now trading near the $2,150 resistance and the 100 hourly simple moving average.
The first key resistance is near the $2,200 level. The next major resistance is near the $2,220 level. It is near the 50% Fib retracement level of the key decline from the $2,405 swing high to $2,049 low.

Source: ETHUSD on TradingView.com
A proper close above the $2,200 and $2,220 resistance levels could set the pace for a decent increase. The next major resistance above $2,220 could be near the $2,300 level. Any more gains could set the pace for a move towards the $2,450 level in the near term.
Fresh Decline in ETH?
If Ethereum fails to climb above the $2,200 resistance zone, it could start a fresh decline. An initial support on the downside is near the $2,100 level.
The first major support is near the $2,050 level. The next major support is near the $2,000 level. If ether bulls fail to defend the $2,050 and $2,000 support levels, there are chances of a sharp decline. The next stop for the bears may possibly be near the $1,850 level.
Technical Indicators
Hourly MACD – The MACD for ETH/USD is now slowly losing pace in the bullish zone.
Hourly RSI – The RSI for ETH/USD is still above the 50 level.
Major Support Level – $2,050
Major Resistance Level – $2,200

bitcoin
Bitcoin (BTC) $ 37,730.11
ethereum
Ethereum (ETH) $ 2,051.42
tether
Tether (USDT) $ 1.00
bnb
BNB (BNB) $ 227.74
xrp
XRP (XRP) $ 0.606172
solana
Solana (SOL) $ 59.20
usd-coin
USDC (USDC) $ 1.00
staked-ether
Lido Staked Ether (STETH) $ 2,048.02
cardano
Cardano (ADA) $ 0.375554
dogecoin
Dogecoin (DOGE) $ 0.083415
tron
TRON (TRX) $ 0.103518
the-open-network
Toncoin (TON) $ 2.39
chainlink
Chainlink (LINK) $ 14.39
avalanche-2
Avalanche (AVAX) $ 21.39
polkadot
Polkadot (DOT) $ 5.46
matic-network
Polygon (MATIC) $ 0.762781
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 37,763.12
dai
Dai (DAI) $ 1.00
litecoin
Litecoin (LTC) $ 69.43
shiba-inu
Shiba Inu (SHIB) $ 0.000008
uniswap
Uniswap (UNI) $ 5.96
bitcoin-cash
Bitcoin Cash (BCH) $ 221.52
leo-token
LEO Token (LEO) $ 4.00
okb
OKB (OKB) $ 56.37
stellar
Stellar (XLM) $ 0.118224
monero
Monero (XMR) $ 169.81
true-usd
TrueUSD (TUSD) $ 0.999142
kaspa
Kaspa (KAS) $ 0.128104
cosmos
Cosmos Hub (ATOM) $ 9.26
ethereum-classic
Ethereum Classic (ETC) $ 18.62
crypto-com-chain
Cronos (CRO) $ 0.088751
lido-dao
Lido DAO (LDO) $ 2.35
filecoin
Filecoin (FIL) $ 4.38
internet-computer
Internet Computer (ICP) $ 4.55
hedera-hashgraph
Hedera (HBAR) $ 0.060167
thorchain
THORChain (RUNE) $ 6.46
aptos
Aptos (APT) $ 6.98
near
NEAR Protocol (NEAR) $ 1.88
bittensor
Bittensor (TAO) $ 292.87
mantle
Mantle (MNT) $ 0.539784
binance-usd
BUSD (BUSD) $ 1.00
immutable-x
Immutable (IMX) $ 1.28
vechain
VeChain (VET) $ 0.021356
injective-protocol
Injective (INJ) $ 18.35
optimism
Optimism (OP) $ 1.67
quant-network
Quant (QNT) $ 99.93
aave
Aave (AAVE) $ 98.14
maker
Maker (MKR) $ 1,526.77
the-graph
The Graph (GRT) $ 0.142727
render-token
Render (RNDR) $ 3.44