Ethereum’s price has begun to bounce back from around $2,250. However, it’s currently stabilizing and may struggle to break past the $2,360 resistance level.
- Ethereum started a recovery wave from the $2,250 zone.
- The price is trading below $2,340 and the 100-hourly Simple Moving Average.
- There was a break above a bearish trend line with resistance at $2,300 on the hourly chart of ETH/USD (data feed via Kraken).
- The pair could start a fresh decline if it stays below the $2,360 zone.
Ethereum Price Faces Resistance
Similar to Bitcoin, Ethereum’s price briefly fell to around $2,250 before buyers stepped in. This led to a rebound, and the price is now trading above the $2,300 level.
Ethereum (ETH/USD) recently broke past a downward trend, overcoming the $2,300 resistance level on its hourly chart. It also moved above a key Fibonacci retracement level, specifically the 23.6% mark of the recent price swing from $2,465 down to $2,253. The price briefly jumped above $2,335, but then encountered resistance and pulled back.
Ethereum’s price has fallen below $2,350 and is now trading under its 100-hour moving average. If the price stays above $2,290, it might try to rise again, but it’s likely to encounter resistance around $2,330.
Ether is currently facing initial resistance around $2,360, which also aligns with a key Fibonacci retracement level. If the price breaks above $2,385, it could climb towards $2,420. A decisive move past $2,420 could lead to further gains, potentially reaching $2,465 or even $2,500 in the short term.
Another Decline In ETH?
If Ethereum doesn’t break past the $2,360 mark, its price might start to fall. It could find some support around $2,290, but the key support level is closer to $2,250.
If the price falls below $2,250, it could drop to $2,200, and potentially even lower to around $2,150. The strongest support level is likely around $2,120.
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 zone.
Major Support Level – $2,250
Major Resistance Level – $2,360
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2026-04-21 06:04