Ethereum (ETH) is trading above $2,050 after recovering from a $1,744 swing low and briefly spiking to $2,168, but the second-largest cryptocurrency by market cap remains stuck below the key $2,150 resistance level with no clear directional breakout in sight.
What Happened: ETH Stalls Below $2,150
ETH formed a base above $1,950 and climbed past the $1,980 and $2,000 resistance levels, breaking above a major bearish trend line at $2,070 on the hourly chart of ETH/USD. The pair reached a high of $2,168 before pulling back.
The price is now consolidating above the 23.6% Fibonacci retracement level of the move from $1,744 to $2,168, holding above the 100-hourly Simple Moving Average. Immediate resistance sits at $2,150, with the next key level at $2,165.
A break above $2,250 could open a path toward $2,350 and potentially $2,550 or $2,665.
On the downside, failure to clear $2,150 puts the $2,020 support in focus, with further losses potentially dragging the price toward $1,950 or the 50% Fibonacci retracement level near $1,845.
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Why It Matters: No Clear Direction
Technical indicators paint a mixed picture.
The hourly MACD is losing momentum in the bearish zone, while the RSI has crossed above 50 — suggesting a slight bullish tilt but nothing decisive.
The $2,020-to-$2,165 range has become the battleground.
A sustained move in either direction would likely set the tone for ETH's next major leg, with $1,800 serving as the floor if sellers take control.
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