Ethereum (ETH) climbed past the $2,050 mark in a recovery wave that outpaced Bitcoin (BTC), but sellers at the $2,150 resistance level forced a retreat that now threatens to erase those gains.
ETH Recovery Stalls at $2,150
The rally pushed ETH above the $2,050 and $2,065 resistance levels, clearing the 61.8% Fibonacci retracement of the decline from $2,198 to $1,936. Bears stepped in near $2,150 and drove the price back below $2,120.
A short-term contracting triangle on the hourly ETH/USD chart, tracked via Kraken data, broke to the downside at the $2,135 support line. ETH still trades above the 100-hourly simple moving average. The pair needs to hold $2,050 for any renewed push higher.
