Ethereum Bulls Face Test at $2,065 as Rally Momentum Fades

Ethereum has surged past $2,200 in its strongest short-term bounce in weeks, but the pullback raises questions about the rally's sustainability.

The price climbed above multiple resistance levels before slipping below the 23.6% Fibonacci retracement of the recent advance.

A bullish trend line on the hourly chart holds support at $2,020, and a failure to clear $2,150 could drag Ethereum to the 50% Fibonacci level near $2,065.

The short-term direction is uncertain, with the hourly MACD losing bullish momentum while the RSI remains above 50.