Ethereum Price Faces Downside Risk, Bears Prepare for Fresh Move

Ethereum price is consolidating above $2,140 after a recovery wave, but faces strong resistance at $2,175 and $2,200 levels. Technical indicators show weakening momentum with MACD losing steam and RSI below 50, suggesting potential downside risk if key resistance levels aren't cleared.

• →ETH recovered above $2,120 and is trading above the 100-hourly moving average but struggles with $2,200 resistance.
• →A bearish trend line has formed with resistance at $2,175 on the hourly chart.
• →Key upside targets include $2,205 (50% Fib level), $2,250, and potentially $2,300-$2,365 if resistance breaks.
• →Failure to clear $2,175 could trigger a decline toward $2,100 support or lower to $2,000.
• →Technical indicators show weakening bullish momentum with MACD losing steam and RSI below 50.