Ethereum price started a recovery wave above the $2,250 level, clearing $2,280 resistance to move into a positive zone. The current price is above $2,320 and the 100-hourly Simple Moving Average. Despite this, Ethereum faces obstacles near the $2,375 level.
The significant resistance is near $2,400, and a close above this might push prices toward $2,450 or even $2,500. However, if Ethereum fails to clear $2,400, a decline could occur, with supports at $2,320 and $2,240. A move below $2,240 might push prices to $2,150 or further to $2,000.
Technical indicators show mixed signals; the hourly MACD is losing momentum in the bullish zone, whereas the RSI is above the 50 zone.
