Headline: Ethereum claws back from $2,250 but stalls under key resistance — $2,360 is make-or-break
Ethereum (ETH) launched a modest recovery after finding support near $2,250, but the rally has run into resistance and the market is consolidating below the 100-hour simple moving average (SMA). Hourly Kraken data shows Ether reclaimed some ground—breaking a bearish trend line near $2,300 and clearing the 23.6% Fibonacci retracement of the $2,465→$2,253 drop—but upside momentum faded just above $2,335.
Where bulls need to prove themselves
- ETH needs to hold above roughly $2,290 to keep the recovery alive. Immediate upside friction sits near $2,330.
- The first decisive barrier is the $2,360 area, which also corresponds to the 50% Fib retracement of the decline from $2,465 to $2,253.
- A clear break above $2,385 would open a path to $2,420, and a sustained push beyond $2,420 could target the $2,465–$2,500 range.
Bearish scenario if resistance holds
- Failure to clear $2,360 could trigger another leg down. Initial support is near $2,290, with the key floor at $2,250.
- A break below $2,250 would put $2,200 and then $2,150 in focus, with $2,120 as the main downside support to watch.
Technical snapshot (hourly)
- MACD: bearish momentum building.
- RSI: below the 50 midpoint, signalling limited bullish conviction.
- 100-hour SMA: ETH is trading beneath it (around $2,340–$2,350).
Key levels
- Major support: $2,250
- Major resistance: $2,360
Short-term outlook: Ether’s recovery has begun, but until it clears the $2,360–$2,385 zone and reclaims the 100-hour SMA decisively, risk remains skewed to the downside for short-term traders. Data via Kraken.
Read more AI-generated news on: undefined/news
