ETH’s Wild Ride: Bulls, Bears, and Fibonacci’s Revenge!

by

Ah, behold! The noble Ethereum, rising from its slumber above the $2,000 mark, doth consolidate with grace at $2,050. Might it aspire to greater heights? The stars, or rather, the charts, shall tell.

  • From the depths of $1,935, Ethereum embarked on a journey upward, as if inspired by the muses of finance.
  • Lo! It trades above $2,020 and the sacred 100-hourly Simple Moving Average, a feat most commendable.
  • A bearish trend line, once a formidable foe, hath been breached with resistance at $2,060 on the hourly chart of ETH/USD (courtesy of Kraken, the mighty data provider).
  • Yet, beware! Should it falter below $2,150, a fresh decline may ensue, leaving bulls in despair.

Ethereum’s Quixotic Recovery

Alas, Ethereum, like its cousin Bitcoin, could not maintain its perch above $2,050 and suffered losses. Below $2,020 and $2,000 it fell, into the clutches of bearish despair.

But hark! The bulls, ever vigilant, appeared near $1,935. A low was formed at $1,936, and lo, the price began its ascent. It surpassed the $2,050 resistance and cleared the 50% Fib retracement level of the downward move from the $2,198 swing high to the $1,936 low. Moreover, it broke above a key bearish trend line with resistance at $2,060 on the hourly chart of ETH/USD.

Now, Ethereum trades above $2,020 and the 100-hourly Simple Moving Average. If the bulls persist in their valor above $2,020, another increase may be attempted. Immediate resistance lies near the $2,120 level.

Ethereum Price Chart

The first key resistance is near the $2,150 level, or the 76.4% Fib retracement level of the downward move from the $2,198 swing high to the $1,936 low. The next major resistance lies near the $2,200 level. A clear move above the $2,200 resistance might propel the price toward the $2,250 resistance. Should it break above the $2,250 region, more gains may be in store. In such a case, Ether could rise toward the $2,320 resistance zone or even $2,350 in the near term.

Another Decline for ETH? Oh, the Irony!

Should Ethereum fail to conquer the $2,120 resistance, a fresh decline may commence. Initial support on the downside is near the $2,050 level. The first major support sits near the $2,020 zone.

A clear move below the $2,020 support might push the price toward the $1,980 support. Further losses could send it toward the $1,950 region. The main support, alas, may be found at $1,880.

Technical Indicators

Hourly MACD – The MACD for ETH/USD gains momentum in the bullish zone, a sight to behold.

Hourly RSI – The RSI for ETH/USD now resides above the 50 zone, a sign of hope.

Major Support Level – $2,050

Major Resistance Level – $2,150

Read More

2026-04-01 06:58