Ethereum

Bitcoin

Resistance

Ethereum price is still struggling to climb again above $2,250 while Bitcoin broke $43,500. ETH is showing a few concerning signs and might take a major hit. 
<ul> 
 <li>Ethereum is struggling to gain pace for a move above the $2,250 resistance zone.</li> 
 <li>The price is trading below $2,220 and the 100-hourly Simple Moving Average.</li> 
 <li>There is a key bullish trend line forming with support near $2,170 on the hourly chart of ETH/USD (data feed via Kraken).</li> 
 <li>The pair could decline heavily if it stays below $2,250 for a long time.</li> 
</ul> 
<h2 id="ethereum-price-faces-hurdles">Ethereum Price Faces Hurdles</h2> 
Ethereum price made another attempt to clear the <a href="https://www.newsbtc.com/analysis/eth/ethereum-price-drop-2120/" target="_blank" rel="noopener ">$2,250 and $2,265 resistance levels</a>. However, ETH failed to settle above the $2,250 resistance. There are clearly more than two rejections noted near the $2,250 and $2,265 levels. 
On the other hand, <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-outperforms-43-5k/" target="_blank" rel="noopener ">Bitcoin</a> gained pace for a move above the $43,500 resistance. This could be a warning sign for ETH bulls. The recent low was formed near $2,155 and the price is now consolidating. It is above the 23.6% Fib retracement level of the recent decline from the $2,265 swing high to the $2,155 low. 
There is also a key bullish trend line forming with support near $2,170 on the hourly chart of ETH/USD. Ethereum is now trading below $2,220 and the 100-hourly Simple Moving Average. 
On the upside, the price is facing resistance near the $2,210 level. It is close to the 50% Fib retracement level of the recent decline from the $2,265 swing high to the $2,155 low. The next key resistance is near the $2,250 level or $2,265. A clear move above the $2,2650 zone could send the price toward the $2,320 level. <a href="https://www.newsbtc.com/wp-content/uploads/2023/12/Ethereum-12.png?resize=1024%2C461"><img loading="lazy" decoding="async" class="size-full wp-image-566269" src="https://www.newsbtc.com/wp-content/uploads/2023/12/Ethereum-12.png?resize=1024%2C461" alt="Ethereum Price" width="1024" height="461" srcset="https://www.newsbtc.com/wp-content/uploads/2023/12/Ethereum-12.png?resize=1024%2C461?w=1835 1835w, https://www.newsbtc.com/wp-content/uploads/2023/12/Ethereum-12.png?resize=1024%2C461?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2023/12/Ethereum-12.png?resize=1024%2C461?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2023/12/Ethereum-12.png?resize=1024%2C461?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2023/12/Ethereum-12.png?resize=1024%2C461?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2023/12/Ethereum-12.png?resize=1024%2C461?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2023/12/Ethereum-12.png?resize=1024%2C461?w=1140 1140w" sizes="(max-width: 1000px) 100vw, 1000px" data-recalc-dims="1"></a> 
Source: <a href="https://www.tradingview.com/symbols/ETHUSD/" target="_blank" rel="noopener nofollow">ETHUSD on TradingView.com</a> 
The next resistance sits at $2,365. Any more gains could start a wave toward the $2,450 level, above which Ethereum might rally and test the $2,500 zone. 
<h2 id="more-losses-in-eth">More Losses in ETH?</h2> 
If Ethereum fails to clear the $2,250 resistance, it could start another decline. Initial support on the downside is near the $2,170 level and the trend line. 
The first key support could be the $2,120 zone. A downside break and a close below $2,120 might spark strong bearish moves. In the stated case, Ether could revisit the $2,000 support. Any more losses might send the price toward the $1,880 level in the coming sessions. 
Technical Indicators 
Hourly MACD – The MACD for ETH/USD is losing momentum in the bullish zone. 
Hourly RSI – The RSI for ETH/USD is now below the 50 level. 
Major Support Level – $2,170 
Major Resistance Level – $2,250

Ethereum Price Struggles While Bitcoin Jumps – Why ETH Could Take Major Hit

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