Ethereum’s price has started to recover, moving above the $2,100 level. However, it’s now consolidating and may struggle to push higher past the $2,150 resistance. The recovery began from the $2,075 zone, but the price is currently trading below $2,120 and the 100-hourly Simple Moving Average. On the hourly chart of ETH/USD (data from Kraken), a bearish trend line is forming with resistance at $2,120. If the price stays below the $2,150 zone, it could start a fresh decline.
Ethereum Price Faces Hurdles
Ethereum’s price stayed strong above the $2,050 support zone, similar to Bitcoin. It formed a base and started a recovery wave above the $2,065 resistance. The price broke through the 38.2% Fibonacci retracement level of the drop from the $2,197 high to the $2,075 low. Bulls even pushed the price toward $2,150, but bears remained active. Additionally, a bearish trend line with resistance at $2,120 is forming on the hourly chart of ETH/USD.
Ethereum is now trading below $2,120 and the 100-hourly Simple Moving Average. If bulls stay active above $2,075, the price could try to rise again. Immediate resistance is near $2,120, with the first key resistance around $2,150—which is also the 61.8% Fibonacci retracement level of the drop from $2,197 to $2,075. The next major resistance is near $2,200. A clear break above $2,200 could push the price toward $2,220. If it breaks above $2,220, more gains might follow in the coming days. In that case, Ether could rise toward the $2,300 resistance zone or even $2,315 in the near term.
More Losses for ETH?
If Ethereum fails to break the $2,150 resistance, it could start a new decline. Initial support on the downside is near $2,085, with the first major support around $2,075. A clear move below $2,075 could push the price toward $2,020. Further losses might send it toward the $2,000 region, with main support at $1,940.
Technical Indicators
– Hourly MACD: The MACD for ETH/USD is gaining momentum in the bearish zone.
– Hourly RSI: The RSI for ETH/USD is now below the 50 level.
– Major Support Level: $2,050
– Major Resistance Level: $2,150
Frequently Asked Questions
Here is a list of FAQs about Ethereums price appearing shaky and the possibility of another drop
BeginnerLevel Questions
1 I keep hearing that Ethereums price bounce is shaky What does that actually mean
It means the recent price increase wasnt strong or confident Instead of buyers jumping in aggressively the price barely moved up or it quickly fell back down Its like a weak bounce on a ball thats about to roll away again
2 Why would another drop be on the way if the price just went up
A shaky bounce often means that sellers are still in control If buyers dont have enough strength to push the price higher the sellers can easily push it back down Its a sign that the downward trend might not be over
3 Is this a good time to buy Ethereum
Probably not if youre looking for a quick profit A shaky bounce is a risky time to buy because the price could drop again soon Its safer to wait for a clearer sign that the price has actually bottomed out
4 Should I sell my Ethereum now to avoid a bigger loss
That depends on your risk tolerance If youre worried about a big drop selling some now can lock in your current value and prevent a larger loss But if you believe in Ethereum longterm you might choose to hold and wait for the market to recover
IntermediateLevel Questions
5 What specific technical indicators show a shaky bounce on a price chart
Key signs include low trading volume a doji or spinning top candlestick pattern and the price failing to break above a key moving average Also if the bounce stalls right below a previous support level that turned into resistance its very shaky
6 Does a shaky bounce always mean another drop is coming
No its a warning sign not a guarantee Sometimes the price can drift sideways for a while before deciding a direction Or a sudden positive news event could give buyers enough confidence to turn the bounce into a real rally