Ethereum price began a recovery wave from the $2,400 zone but is struggling to move past the $2,600 resistance. After rising above $2,500 and $2,550, ETH is trading below $2,580 and the 100-hourly Simple Moving Average.
There was a break above a key bearish trend line at $2,550 on the hourly chart of ETH/USD. However, bears are actively defending the $2,600 resistance level.
If Ethereum can close above $2,600, it might target $2,660 and $2,720 as next resistances. However, failure to clear $2,600 could lead to another decline towards $2,485 or $2,420, with further losses potentially bringing the price down to $2,320 or $2,250.
Technical indicators also show mixed signals, with the MACD losing momentum and the RSI below the 50 zone.
