Ethereum Bulls Face $2,065 Test After Surging Above $2,200
Ethereum bulls are facing a crucial test as they try to defend the $2,065 level after a strong surge that pushed the price above $2,200.
The ETH price climbed past several resistance levels, including $2,050, $2,080, and $2,120, before peaking at $2,200. However, the price has since pulled back below $2,150 and is now sitting just above the 23.6% Fibonacci retracement of the $1,929-to-$2,200 advance.
The hourly MACD is losing bullish momentum, while the RSI remains above 50, creating a mixed signal that leaves the short-term direction uncertain. A failure to clear $2,150 could drag ETH down to the 50% Fibonacci level near $2,065, with further downside targets at $2,020, $1,980, and $1,920.
The rally from the $1,929 swing low has been strong, but traders are now weighing whether it has enough momentum to push higher or is setting up for a deeper correction. If bulls reclaim $2,200 and push through $2,250, the move could extend toward $2,320 or $2,350.