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04/03/26
11
Ethereum Faces Resistance After Brief Surge Past $2,080 Amid Caution
Ethereum experienced a brief upward movement, briefly surpassing the $2,080 level before facing resistance. Following this attempt, the cryptocurrency corrected downward, trading below key support levels and signaling potential for further declines.
After rallying past $2,020 and $2,050 resistance levels, ETH reached a high of approximately $2,089. However, momentum waned, and it fell below the $2,000 threshold and retraced nearly 50% of the recent gains from a swing low of $1,835. The current price action indicates a correction, with Ethereum stabilizing above $1,960 and the 100-hour simple moving average. A rising channel pattern is evident on the hourly chart, with support resting around $1,960, suggesting some resilience if buying interest persists at these levels.
Should bullish traders maintain momentum, the price could attempt to retake previous resistance zones. Immediate resistance is observed near $2,020, followed by a stronger hurdle around $2,050 and later near $2,080. A decisive move above this zone could signal potential gains extending toward $2,120 and possibly reaching the $2,200 to $2,220 range in the short term.
Conversely, if Ethereum fails to break through resistance, a retest of support levels could occur. The initial downside supports are around $1,960 and $1,932, the latter aligned with the 61.8% Fibonacci retracement of the recent upward move. A breach below $1,932 could deepen losses toward $1,895 and further down to $1,850, with the main support zone around $1,820.
Recent technical indicators reinforce the cautious outlook: the MACD is leaning toward a bearish bias, and the Relative Strength Index has dipped below 50. These signals suggest that unless ETH can reclaim higher levels, further downside risks remain in the near term.
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