Ethereum’s price rose past $2,150, but then some investors started selling. Now, the price is dropping slightly and could find support around $2,080.
- Ethereum started a decent upward move above the $2,120 zone.
- The price is trading above $2,100 and the 100-hourly Simple Moving Average.
- There was a break below a rising channel with support at $2,140 on the hourly chart of ETH/USD (data feed via Kraken).
- The pair could start a fresh increase if it stays above the $2,080 resistance.
Ethereum Price Aims Higher
Ethereum’s price held steady above $2,050 and then began to rise, mirroring Bitcoin’s performance. It broke through resistance levels at $2,080 and $2,120.
The price of the asset initially rose above $2,150, peaking at $2,174. However, it then began to fall. This decline broke through a key technical level – the 38.2% Fibonacci retracement – measured from the recent low of $2,021 to the high of $2,174.
Looking at the hourly chart, Ethereum’s price recently dropped below a rising channel, with support around $2,140. Currently, the price is above $2,080 and also above its 100-hour moving average. If buying pressure continues above $2,080, Ethereum could try to rise again.
Looking at the current price action, I’m seeing initial resistance around $2,120, with a more significant barrier at $2,140. If we break above $2,140, the next key level to watch is $2,175. A decisive move past $2,175 could open the door for a run toward $2,220. If we manage to clear $2,220, I anticipate further gains, potentially pushing Ether up to the $2,350 – $2,380 range in the short term.
More Losses In ETH?
As a crypto investor, I’m watching Ethereum closely. If it can’t break through the $2,140 resistance level, we might see it start to fall again. I’m looking at around $2,080 as a first potential support level, and then $2,065 as a more significant one if things go south. Basically, if it doesn’t climb past $2,140, I expect a dip with those levels acting as possible floors.
If the price falls below $2,065, it could drop to $2,020, and potentially even lower to around $1,980. Strong support is likely around $1,965.
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 – $2,065
Major Resistance Level – $2,140
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2026-04-07 06:22