Aayush Jindal
Key Highlights
- Ethereum failed to stay above $2,250 and trimmed gains.
- A bullish trend line is forming with support at $2,100 on the daily chart of ETH/USD.
- Bitcoin price declined and settled below the $80,000 pivot zone.
- XRP failed to settle above $1.480 and $1.4850.
Ethereum Technical Analysis
Ethereum attempted an upside break above $2,400 but failed. ETH started a downside correction and traded below the $2,320 support.
Looking at the daily chart, the price failed to settle above the 38.2% Fib retracement level of the downward move from the $3,400 swing high to the $1,740 swing low. It is now below $2,200 and the 100-day simple moving average (red).
On the downside, the bulls might be active near $2,120 and $2,100. There is also a bullish trend line forming with support at $2,100, below which the price could slide toward $2,020. Any more losses might call for a move toward $1,965. The main support could be $1,880.
On the upside, the bears might remain active near $2,250. The first key resistance could be near the $2,320 level. The main hurdle for bulls sits near $2,400.
A close above the $2,400 level could open doors for a larger upward movement. In the stated case, ETH could rise toward the 50% Fib retracement level of the downward move from the $3,400 swing high to the $1,740 swing low at $2,565.
Looking at Bitcoin, the price failed to continue higher, trimmed gains, and now trades below the $80,000 support zone.
Economic Releases
- US Pending Home Sales for April 2026 (YoY) - Forecast +1.3%, versus +1.5% previous.
