Ethereum (ETH) climbed above $2,080 after holding support near $2,020, breaking past a bearish trend line on the hourly chart as bulls now target the key $2,150 resistance level.
ETH Breaks Trend Line
The token pushed through the $2,050 and $2,065 resistance levels in a steady recovery, outpacing Bitcoin (BTC) on the session. On the hourly ETH/USD chart, data from Kraken showed a break above a bearish trend line that had capped prices at $2,065.
Buyers drove ETH past the 50% Fibonacci retracement of the drop from $2,168 to $2,017.
The price now trades above the 100-hourly simple moving average.
Immediate resistance sits at $2,140, near the 83.2% Fibonacci retracement of that same move. A sustained push above $2,150 could open the path toward $2,180 and then $2,220, with $2,350 to $2,380 in play if momentum holds.
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ETH Downside Risks
A failure at $2,150 would likely send the price back toward $2,080 and then $2,065. A break below $2,065 could drag ETH toward $2,020, with $1,980 and $1,965 serving as deeper support levels.
The hourly MACD is gaining momentum in bullish territory, while the RSI holds above 50 — both suggesting buyers retain the upper hand for now.
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