Ethereum price slipped from the $2,150 level this week, entering a downside correction that brought it back above $2,100. The cryptocurrency is currently trading above both the $2,100 mark and the 100-hourly Simple Moving Average, but faces immediate hurdles at $2,110 and $2,140.
Key resistance at $2,150 remains the ceiling
Clearing $2,150 resistance would open the door to $2,220, with the potential for gains toward $2,250-$2,320 in the near term. The hourly MACD is showing bullish momentum, and the RSI sits above 50 — technical signals that favor the bulls if they can push through the current cluster of supply. So far, however, each attempt above $2,110 has been met with selling pressure.
Support levels to watch below $2,100
On the downside, the major support sits at $2,055, defined by the 61.8% Fibonacci retracement level of the recent upswing. If that level gives way, the next floors are $2,020 and then $1,940. A failure to hold above $2,110 resistance could trigger a decline toward those lower supports — a scenario that would test the conviction of near-term buyers.
Bulls active near $2,065
Buyers have been stepping in around $2,065, making that zone a critical pivot for any potential recovery. Holding above $2,065 and reclaiming $2,110 would shift the short-term bias back to bullish. Right now, the action is squeezed between $2,110 and $2,065 — a tight range that should resolve within the next few trading sessions.
The immediate question is whether Ethereum can break above $2,110 and then $2,140-$2,150. A decisive move above $2,150 would target $2,220. If the bulls can't hold $2,110, expect a test of the $2,055 support — an area that will show just how much conviction remains in this market.
