Ethereum

Bounce

Resistance

Tom Lee

would

Ethereum<a href="https://yellow.com/asset/eth" rel="noopener noreferrer nofollow">(ETH)</a> reclaimed the $2,100 zone in a tentative recovery wave, though traders warn the bounce remains fragile <a href="https://yellow.com/news/ethereum-price-chart-breakout-larger-move" rel="noopener noreferrer nofollow">below $2,150 resistance</a>.
<h2 id="eth-recovery-meets-resistance">ETH Recovery Meets Resistance</h2>
The second-largest cryptocurrency <a href="https://www.newsbtc.com/analysis/eth/ethereum-price-bounce-looks-fragile-2150/" rel="noopener noreferrer nofollow">climbed</a> from a $2,075 swing low after forming a base above the $2,050 support zone, mirroring a similar stabilization attempt in Bitcoin.
<blockquote>
 Bulls drove price toward $2,150 before sellers stepped back in.
</blockquote>
The pair now trades below $2,120 and the 100-hourly <a href="https://yellow.com/learn/simple-moving-average-sma-complete-guide-to-this-essential-trading-tool" rel="noopener noreferrer nofollow">simple moving average</a>, with a bearish trend line capping further gains on the hourly ETH/USD chart.
Price has cleared the 38.2% Fibonacci retracement of the drop from the $2,197 swing high to the $2,075 low.
The 61.8% retracement near $2,150 marks the next major hurdle. A decisive break above $2,200 would open the path toward $2,220 and potentially $2,300 in the near term.
Also Read:<a href="https://yellow.com/news/bitmine-buys-71672-eth-tom-lee-bargain" rel="noopener noreferrer nofollow">BitMine Buys 71,672 ETH As Tom Lee Calls $2,200 Dip A Bargain</a>
<h2 id="bearish-momentum-signals-strengthen">Bearish Momentum Signals Strengthen</h2>
Technical indicators continue to lean against the bulls. The hourly <a href="https://yellow.com/learn/macd-crypto-trading-signals" rel="noopener noreferrer nofollow">MACD</a> is gaining ground in bearish territory, while the hourly <a href="https://yellow.com/learn/the-relative-strength-index-rsi-what-it-is-and-how-it-works" rel="noopener noreferrer nofollow">RSI</a> sits below the 50 line.
Independent analysis <a href="https://coinpaper.com/17101/ethereum-price-prediction-ethereum-faces-trendline-test" rel="noopener noreferrer nofollow">noted</a> ETH was trading near $2,108 after losing a rising support line on the 4-day chart.
The breakdown puts sellers back in control on shorter timeframes.
Other analysts <a href="https://coindcx.com/blog/price-predictions/ethereum-price-prediction/" rel="noopener noreferrer nofollow">pointed</a> to a similar setup, with ETH trading below both its 50-day and 200-day moving averages near $2,115. A weekly close above $2,125 would open the door to $2,160, while a loss of $2,108 sets up a retest of $2,080.
<h2 id="eth-price-context-this-month">ETH Price Context This Month</h2>
A failure to clear $2,150 would likely send Ethereum back toward initial support at $2,085, then $2,075. A clean break below could push price toward $2,020 and the psychological $2,000 mark, with major support at $1,940.
The current consolidation follows a turbulent stretch for the asset. After rebounding from $1,837 in late February, ETH traded around $2,200 through March before correcting to the $2,040 to $2,060 range by early Apr. The token then <a href="https://www.cryptopolitan.com/ethereum-price-prediction/" rel="noopener noreferrer nofollow">surged</a> to a monthly high of $2,450 in mid-April, only to shed 8% by month-end after a $500 million deleveraging event broke the ascending trendline. ETH closed April down 22.8% year-to-date.
Read Next:<a href="https://yellow.com/news/privacy-wins-may-zcash-breakout-bears" rel="noopener noreferrer nofollow">Privacy Wins May As Zcash Eyes A Breakout The Bears Missed</a>

Ethereum Bounce Stalls At $2,150 As Bears Defend Key Resistance

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