NewsBTC 2026-05-11 03:18:37

Ethereum Price Tries To Extend Gains, $2,420 Stands In The Way

Ethereum price started a fresh increase above the $2,320 zone. ETH is now consolidating and might struggle to continue higher above the $2,385 resistance. Ethereum started a decent upward move from the $2,265 zone. The price is trading above $2,320 and the 100-hourly Simple Moving Average. There is a bullish trend line forming with support at $2,320 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a fresh decline if it stays below the $2,300 zone. Ethereum Price Faces Hurdles Ethereum price remained bid above the $2,265 support zone, like Bitcoin . ETH price formed a base and started a recovery wave above the $2,300 resistance. The price surpassed the 50% Fib retracement level of the downward move from the $2,423 swing high to the $2,265 low. The bulls even pushed the price toward $2,380. Besides, there is a bullish trend line forming with support at $2,320 on the hourly chart of ETH/USD. Ethereum price is now trading above $2,320 and the 100-hourly Simple Moving Average . If the bulls remain in action above $2,320, the price could attempt another increase. Immediate resistance is seen near the $2,385 level or the 76.4% Fib retracement level of the downward move from the $2,423 swing high to the $2,265 low. The first key resistance is near the $2,400 level. The next major resistance is near the $2,420 level. A clear move above the $2,420 resistance might send the price toward the $2,480 resistance. An upside break above the $2,480 region might call for more gains in the coming days. In the stated case, Ether could rise toward the $2,550 resistance zone or even $2,565 in the near term. Another Drop In ETH? If Ethereum fails to clear the $2,385 resistance, it could start a fresh decline. Initial support on the downside is near the $2,320 level. The first major support sits near the $2,300 zone. A clear move below the $2,300 support might push the price toward the $2,265 support. Any more losses might send the price toward the $2,220 region. The main support could be $2,200. Technical Indicators Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now above the 50 zone. Major Support Level – $2,300 Major Resistance Level – $2,385

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