Ethereum (ETH) bulls aim for another push above $2,000 while bears test key support
Ethereum is trading just above $2,100 as bullish momentum tries to reassert itself above the $2,000 level. Over the past hour the ETH/USD pair experienced significant selling pressure, dropping from a recent high near $2,131 down to around $2,090. Bears appear determined to push prices lower after rejecting buyers near the all-time peak of $2,152.
The positive sentiment that developed over the last week must hold in the short term for ETH/USD to pursue fresh gains. Sustained upside will depend on buyers preserving momentum and avoiding a deeper pullback toward key support zones.
If Ethereum follows the pattern seen in several major altcoins that continued to rally, it could rejoin a broader market advance. Among the top ten cryptocurrencies, Ripple’s XRP posted the largest intraday gain, rising roughly 36% in 24 hours and eyeing a breakout above $1.00—a notable milestone for a token that has faced resistance during much of the bull run.
Other notable performers include Binance Coin (BNB), up about 12% and trading near $385, and Litecoin, which gained around 10% and is testing resistance near $225. Stellar (XLM) also climbed approximately 16% and trades close to $0.54.
Ethereum price analysis
From a technical perspective, the hourly chart suggests buyers are attempting to push ETH higher as selling pressure eases. The MACD sits above its signal line, indicating waning bearish momentum, while the hourly RSI has moved above the 50 midpoint, giving the edge to buyers in the near term.
Currently, Ethereum trades just below a key bullish trend line and the 23.6% Fibonacci retracement level at about $2,116 on the hourly chart. If bulls can regain strength and retest the recent swing high near $2,152, upside targets above that supply area include $2,200 and $2,250.
Conversely, the outlook would turn more bearish if prices break lower. Immediate support lies near the horizontal level around $2,080. A breakdown below that zone could prompt bears to test the 50% Fibonacci retracement near $2,077 and the 100-hour simple moving average around $2,069. Continued losses from those levels could drive a deeper retracement toward the $2,000 support area.
In summary, short-term direction for ETH depends on whether buyers can sustain momentum above the $2,100–$2,116 zone and challenge $2,152 resistance. Failure to hold current support would likely invite further downside pressure and a potential retest of the $2,000 mark.