- Ethereum price is holding above $2,120 after a pullback from $2,274, with bulls aiming for a fresh upward move.
- Key resistance sits at $2,220–$2,250, while support near $2,120 could determine the next price direction.
Ethereum has found support around $2,120 after retreating from recent highs near $2,274. Traders are watching closely to see if the market can regain strength and push toward the next resistance levels.
Ethereum Maintains Key Support Levels
ETH has shown resilience above $2,150, staying above the 100-hourly Simple Moving Average. Earlier gains saw the price rise above $2,250, but a short-term correction brought it back near $2,120. Holding this level is crucial for any potential rebound in the coming sessions.
Immediate resistance is around $2,200, with stronger hurdles at $2,220 and $2,250. A successful move above $2,250 could open the path toward $2,320, and even $2,400 if buying pressure continues. Traders will likely monitor these levels for signs of renewed bullish momentum.
Potential Downside Risks
If Ethereum cannot break above $2,220, it may drift lower. Support levels at $2,165 and $2,120 are critical, and a fall below $2,120 could bring the $2,080 or $2,050 zones into focus. The strongest support is near $2,020, which could act as a final line before deeper declines.
Technical Indicators at a Glance
- Hourly MACD: Showing bearish pressure, but could turn if buying increases
- Hourly RSI: Below 50, suggesting caution among traders
- Major Support: $2,120
- Major Resistance: $2,220
Ethereum’s near-term direction hinges on the $2,120 support. A clear break above $2,220 could spark fresh gains, while a drop below support might lead to further declines.
ALSO READ: Ethereum Stablecoin Supply Hits Record $180B as Institutional Tokenization Grows
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