Ethereum pushed above a key bearish trend line on the hourly chart this week, breaking resistance at $2,110. But the gains haven't stuck — the second-largest crypto is still trading below $2,140 and the 100-hourly Simple Moving Average. That leaves ETH in a tight spot between a Fibonacci resistance level at $2,150 and support at $2,050.
The breakout that didn't hold
The hourly chart showed Ethereum breaking above a bearish trend line with resistance at $2,110. That line had capped moves for several sessions. Bullish momentum drove the price higher, but it ran into trouble at $2,150. That level marks the 61.8% Fibonacci retracement of the recent decline from $2,198 to $2,075. So far, ETH hasn't been able to clear it. The 100-hourly SMA adds another layer of resistance just above $2,140. The price action is a textbook example of a failed breakout — the spike above the trend line drew buyers, but sellers stepped in right at the Fibonacci level. That's left the market indecisive.
What $2,150 means for the next move
$2,150 is the major resistance to watch. If buyers can push through, the next targets sit around $2,250 to $2,265. But if they fail — and they've failed once already — a pullback toward $2,120 and then $2,080 is likely. The $2,050 support zone is the last line before a steeper drop. That zone has held twice in the past week. A break below it would open the door to the $2,000 handle, though the facts don't confirm that level yet. For now, traders are treating $2,050 as a hard floor.
Technical signs are mixed but leaning bullish
The MACD is gaining momentum in the bullish zone, and the RSI sits above 50 — not screaming overbought, just leaning bullish. That gives some hope for another attempt at $2,150. But the price action above $2,110 is still tentative. A clean break above the SMA would help confidence. Volume data wasn't immediately available, but the move above $2,110 came on relatively moderate buying. The indicators alone don't guarantee a breakout. They just suggest the bears aren't in control yet.
What traders are watching
Traders are watching whether ETH can close above $2,150 in the next few sessions. A decisive breakout would open the path to $2,200 and beyond. Failure to hold $2,110 support would put $2,050 back in play. No one's calling a trend yet — this is still a range-bound market. The next 24 to 48 hours could determine the direction for the rest of the week. It's a waiting game on the hourly charts.
