Ethereum Bounces Above ₱122,495 ($2,020) After Drop to ₱117,401 ($1,936)
Ethereum bounced from a low of ₱117,401 ($1,936) near the recovery zone as bulls pushed the price above $2,020, clearing the 100-hourly simple moving average. The hourly MACD is gaining bullish momentum while RSI climbed above 50.
Key Takeaway
Ethereum bulls need to clear $2,150 resistance to confirm recovery momentum and target $2,320.
Ethereum formed a low at $1,936 before bulls stepped in near the recovery zone. The price pushed through the $2,050 consolidation level and now holds above $2,020, which sits above the 100-hourly simple moving average. That $2,020 mark serves as the first major support if sellers return. A bearish trend line on the hourly ETH/USD chart from Kraken data shows resistance around $2,060.
Immediate resistance waits at $2,120. The first key barrier sits at $2,150, which matches the 76.4% Fibonacci retracement level of the downward move from the $2,198 swing high to the $1,936 low. Breaking past $2,150 opens the path toward $2,200.
The hourly MACD for ETH/USD is gaining momentum in the bullish zone. The hourly RSI climbed above the 50 mark, confirming short-term strength. If Ethereum clears $2,250, additional gains could push toward $2,320 or even $2,350 in the near term.
Downside support levels are stacked below current prices. The $2,020 zone provides the first cushion, followed by $1,980 and the previous consolidation area at $1,950. A break below those levels would expose $1,935 and eventually the main support at $1,880 on April 1, 2026.
This article was written based on reporting from NewsBTC.
