ETH Bulls Face Crucial Test at $2,065

Ethereum's recent surge has left traders wondering if the rally can be sustained above $2,065.

The cryptocurrency surged more than 8% to reach $2,200 before pulling back below $2,150.

This move pushed Ethereum past several resistance levels, including $2,050 and $2,120.

However, the price has since slipped below the 23.6% Fibonacci retracement of the rally from $1,929 to $2,200.

A bullish trend line on the hourly chart holds support at $2,020, with resistance sitting at $2,150 and above.