Ethereum (ETH) surged nearly 14% from a $1,929 swing low to a $2,200 high before pulling back, with the token now trading above $2,065 and a key trend line support at $2,030 that will determine whether the rally resumes or gives way to deeper losses.
What Happened: ETH Pulls Back After Rally
Ether climbed above the $2,120 and $2,150 resistance levels in the recent push, briefly touching $2,200 before sellers stepped in. The price has since corrected to the 50% Fibonacci retracement of the $1,929–$2,200 move, settling above the 100-hourly Simple Moving Average.
A bullish trend line is holding at $2,030 on the hourly ETH/USD chart. That level also coincides with the 61.8% Fibonacci retracement, making it the first line of defense if selling pressure intensifies.
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Why It Matters: Key Levels Define Next Move
The $2,030–$2,135 range is now the battleground. A hold above $2,030 opens a path back toward $2,100, then $2,135 and $2,150 resistance; a clean break above $2,150 could put $2,200 back in play, with $2,250 and $2,320 as the next targets beyond that.
A failure to reclaim $2,135, however, puts $2,000 in focus, followed by $1,965 and the main support around $1,920.
The hourly MACD is losing momentum in the bullish zone and the RSI has slipped below 50, signaling fading buying pressure.
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