Ethereum is still fighting to break through $2,250, while Bitcoin has broken above $43,500. ETH is showing some warning indicators and may take a significant tumble.

  • Ethereum is battling to find traction to break through the $2,250 barrier zone.
  • The price is currently trading below $2,220 as well as the 100-hourly Simple Moving Average.
  • On the hourly chart of ETH/USD (data feed via Kraken), a key bullish trend line is forming with support near $2,170.
  • If the pair remains below $2,250 for an extended period, it could fall significantly.

Ethereum Price Is Under Pressure

The Ethereum price attempted to break through the $2,250 and $2,265 resistance levels once more. However, ETH failed to break beyond the $2,250 resistance level. Near the $2,250 and $2,265 levels, there are more than two rejections.

Bitcoin, on the other hand, gained momentum as it approached the $43,500 barrier level. This could be a red flag for ETH bulls.

On the hourly chart of ETH/USD, a key bullish trend line is forming with support near $2,170. Ethereum is currently trading below $2,220 and the 100-hourly SMA.

On the upside, the price is encountering resistance near $2,210. It is close to the 50% Fib retracement level of the latest slide from the swing high of $2,265 to the low of $2,155.

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The next significant resistance is between $2,250 and $2,265. A decisive break above the $2,2650 mark might push the price up to the $2,320 level.

The next level of resistance is $2,365. Any additional gains might set off a wave toward the $2,450 barrier, over which Ethereum could surge and test the $2,500 zone.

More Ethereum losses?

If Ethereum fails to break through the $2,250 resistance level, it may fall further. On the downside, initial support is near the $2,170 level and the trend line.

The $2,120 area could be the first major support level. A break and closure below $2,120 might start a big negative trend. In the aforementioned scenario, Ether could reconsider the $2,000 support.

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