Ethereum (ETH) has recovered from a swing low of $1,744, briefly soaring to $2,168, and is currently trading above $2,050. However, Ethereum, the second-largest cryptocurrency by market capitalization, remains below the key $2,150 resistance level and has not shown a clear directional breakout.
What happened: ETH halted below $2,150
ETH formed support around $1,950, broke through resistance at $1,980 and $2,000, and broke above a major downtrend line near $2,070 on the ETH/USD hourly chart. After reaching a peak of $2,168, a pullback occurred.
The current price is hovering above the 23.6% Fibonacci retracement level of the rise from $1,744 to $2,168 and is maintaining above the 100-hour simple moving average. Short-term resistance is located at $2,150, and the next key level is $2,165.
If it clearly breaks $2,250, there is a potential path for it to rise to $2,350 and possibly to the ranges of $2,550 or $2,665.
Conversely, if it fails to break $2,150, the support at $2,020 will come into focus, and in case of further decline, the price could drop to around $1,950 or the 50% Fibonacci retracement level of $1,845.
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Why it matters: Lack of direction
Technical indicators show mixed signals.
The hourly MACD is still losing momentum in a bearish range, while the RSI has broken above 50, suggesting a weak bullish dominance, but it is not enough to draw a clear conclusion.
The range between $2,020 and $2,165 has essentially become a battlefield.
A continuous move that breaks either side of this range is likely to determine ETH's next major flow, and if the selling pressure takes control, $1,800 could serve as the final defense line.
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