<div id="readability-page-1"><div>Ethereum price started a recovery wave above the $2,110 zone. ETH is now consolidating and might struggle to continue higher above the $2,150 resistance.<ul><li>Ethereum started a recovery wave above the $2,120 zone.</li><li>The price is trading below $2,140 and the 100-hourly Simple Moving Average.</li><li>There was a break above a bearish trend line with resistance at $2,110 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 Eyes RecoveryEthereum price remained bid above the $2,065 support zone, like Bitcoin. ETH price formed a base and started a recovery wave above the $2,080 resistance.The price surpassed the 50% Fib retracement level of the downward move from the $2,198 swing high to the $2,075 swing low. Besides, there was a break above a bearish trend line with resistance at $2,110 on the hourly chart of ETH/USD.Ethereum price is now trading below $2,150 and the 100-hourly Simple Moving Average. If the bulls remain in action above $2,100, the price could attempt another increase. Immediate resistance is seen near the $2,140 level. The first key resistance is near the $2,150 level or the 61.8% Fib retracement level of the downward move from the $2,198 swing high to the $2,075 swing low.<figure></figure>The next major resistance is near the $2,175 level. A clear move above the $2,175 resistance might send the price toward the $2,200 resistance. An upside break above the $2,200 region might call for more gains in the coming days. In the stated case, Ether could rise toward the $2,250 resistance zone or even $2,265 in the near term.Another Decline 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 $2,120 level. The first major support sits near the $2,080 zone.A clear move below the $2,080 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 bullish zone.Hourly RSI – The RSI for ETH/USD is now above the 50 zone.Major Support Level – $2,050Major Resistance Level – $2,150</div></div>

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Ethereum price is consolidating above $2,110 but faces resistance at $2,150. A recovery wave has formed, with support at $2,065. If ETH clears $2,150, it could rise towards $2,200 and potentially $2,250. However, failure to break this resistance may lead to a decline, with initial support at $2,120 and major support at $2,080. Technical indicators show bullish momentum, with MACD gaining strength and RSI above 50.

- Ethereum price has begun a recovery wave, trading above $2,110 but facing resistance near $2,150.  
- The cryptocurrency is currently consolidating, with significant support at $2,080 and potential gains if it surpasses the $2,175 mark.  
- Conversely, if Ethereum fails to break the $2,150 barrier, a decline may occur, potentially dropping the price toward $2,020 or lower.

Ethereum Price Encounters Fresh Resistance, Bulls Lose Some Momentum