Ethereum is trying to extend a modest recovery, but momentum has stalled near key resistance as bulls and bears slug it out.
Price action snapshot
- After a rebound that began above the $1,520 area (mirroring Bitcoin’s lift), ETH climbed past $1,620 and cleared the 23.6% Fibonacci retracement of the $2,005 → $1,505 swing.
- Gains have been capped, however: ETH is trading under $1,680 and below the 100-hour Simple Moving Average, and the hourly chart shows a break beneath a bullish trend line that had been supporting price at about $1,685 (Kraken feed).
What could happen next
- Bull case: If buyers can hold above roughly $1,650 and push through immediate resistance around $1,680, the next hurdle sits at $1,700. A convincing break above $1,750 (the 50% Fib of the $2,005 → $1,505 drop) would likely open the way to $1,800 and, if momentum continues, $1,840–$1,880.
- Bear case: Failure to clear $1,700 could see ETH roll over. Initial support is near $1,650, with more meaningful floors at $1,620 and $1,580. A break below $1,620 could accelerate losses toward $1,550, with $1,500 as the major downside anchor.
Technical indicators
- Hourly MACD: increasing bearish momentum.
- Hourly RSI: below the 50 midpoint, favoring sellers.
Quick levels to watch
- Major resistance: $1,700 (immediate) and $1,750 (50% Fib)
- Immediate resistance: $1,680
- Initial supports: $1,650 and $1,620
- Lower supports: $1,580, $1,550, $1,500
Bottom line: ETH’s short-term outlook hinges on whether bulls can reclaim $1,700–$1,750. A sustained move above those levels would suggest a renewed uptrend toward $1,800+, while rejection could trigger a deeper pullback toward $1,620 and below.
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