Near 100-SMA, Ethereum Price Recovery May Stall: Drop Coming?

Ethereum price is trying to rebound over $2,280. ETH must break $2,360 to rise soon.

Ethereum is trying to rebound from $2,150.
The price is below $2,320 and the 100-hour SMA.

The hourly ETH/USD chart broke above a negative trend line with resistance at $2,280.
The duo must break $2,360 to rise soon.

Ethereum Price Resistance

Ethereum tried to regain over $2,400. The $2,450 barrier zone held ETH back. Bitcoin fell below $2,320 again.

Support zone $2,150 was tested. After a low of $2,150, the price is trying to rebound. Moved over $2,220 and $2,280 resistance levels. The price rose beyond the 23.6% Fib retracement of the negative wave from $2,488 swing high to $2,150 low.

On the hourly ETH/USD chart, a negative trend line with resistance at $2,280 broke. Ethereum has fallen below $2,320 and the 100-hour SMA.

The price may face resistance at $2,320 on the upside. The first big barrier is $2,360, the 61.8% Fib retracement level of the falling wave from $2,488 swing high to $2,150 low. Ether may approach $2,420 if it closes over $2,360.

Around $2,480 is the next resistance. A break over $2,480 barrier might push the price above $2,550.

Another ETH drop?

Ethereum may fall again if it fails to break $2,360. The downside has first support at $2,250. Near $2,180 is the first big support.

A break below $2,180 might bring the price to $2,150. If losses continue, the price may reach $2,050 support. The next support is $2,000.

ETH/USD hourly MACD is losing momentum in the negative zone.

Hourly ETH/USD RSI is over 50.

Major Support—$2,180

Major Resistance: $2,360

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