<div id="readability-page-1"><div>Ethereum price started a recovery wave above the $2,100 zone. ETH is now consolidating and might struggle to continue higher above the $2,150 resistance.<ul><li>Ethereum started a recovery wave from the $2,075 zone.</li><li>The price is trading below $2,120 and the 100-hourly Simple Moving Average.</li><li>There is a bearish trend line forming with resistance at $2,120 on the hourly chart of ETH/USD (data feed via Kraken).</li><li>The pair could start a fresh decline if it stays below the $2,150 zone.</li></ul>Ethereum Price Faces HurdlesEthereum price remained bid above the $2,050 support zone, like Bitcoin. ETH price formed a base and started a recovery wave above the $2,065 resistance.The price surpassed the 38.2% Fib retracement level of the downward move from the $2,197 swing high to the $2,075 swing low. The bulls even pushed the price toward $2,150 but the bears remained active. Besides, there is a bearish trend line forming with resistance at $2,120 on the hourly chart of ETH/USD.Ethereum price is now trading below $2,120 and the 100-hourly Simple Moving Average. If the bulls remain in action above $2,075, the price could attempt another increase. Immediate resistance is seen near the $2,120 level. The first key resistance is near the $2,150 level or the 61.8% Fib retracement level of the downward move from the $2,197 swing high to the $2,075 swing low.<figure></figure>The next major resistance is near the $2,200 level. A clear move above the $2,200 resistance might send the price toward the $2,220 resistance. An upside break above the $2,220 region might call for more gains in the coming days. In the stated case, Ether could rise toward the $2,300 resistance zone or even $2,315 in the near term.More Losses In ETH?If Ethereum fails to clear the $2,150 resistance, it could start a fresh decline. Initial support on the downside is near the $2,085 level. The first major support sits near the $2,075 zone.A clear move below the $2,075 support might push the price toward the $2,020 support. Any more losses might send the price toward the $2,000 region. The main support could be $1,940.Technical IndicatorsHourly 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 – $2,050Major Resistance Level – $2,150</div></div>

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Ethereum is currently consolidating above the $2,100 zone but faces resistance at $2,150. A bearish trend line is forming, and if ETH fails to break this resistance, it may decline towards $2,075 and potentially lower to $2,000. Key support is at $2,050, while a move above $2,200 could lead to gains towards $2,300.

Ethereum Price Bounce Looks Fragile, Another Selloff May Be Brewing