Ethereum Rally Stalls Again, Hesitates at $2,150 Sell Wall

▲ Ethereum (ETH)

Ethereum (ETH) recorded explosive gains and broke through a major resistance level, but encountered a strong sell wall near $2,150 and has entered a short-term consolidation phase.

According to a report released on February 26 (local time), crypto media outlet NewsBTC cited analysis by Aayush Jindal, noting that Ethereum’s rally of more than 15% lost momentum at the $2,150 resistance zone. Jindal explained that Ethereum gained fresh bullish momentum above the $1,950 region, broke through a descending trend line formed at $1,920 on the hourly chart, and surpassed the $2,100 level. However, after forming a local high at $2,158, the price underwent a sharp correction, surrendering part of its recent gains.

Currently, Ethereum is trading above the $2,000 level and the 100-hour simple moving average, building a support base for further upside. If buying pressure remains above $2,000, another upward attempt appears likely, with the first short-term resistance positioned around $2,080. A break above this level could lead to attempts to reclaim the key resistance levels at $2,120 and $2,150. Should Ethereum decisively surpass $2,150, the price could advance past $2,200 and potentially surge toward $2,320 in the short term.

Looking at technical indicators, the Moving Average Convergence Divergence (MACD) is losing some momentum in bullish territory, while the Relative Strength Index (RSI) remains above the 50 level, signaling positive conditions. Analysts warn that if Ethereum fails to overcome the $2,120 resistance barrier, a new downward wave could begin. On the downside, the first major support lies near $1,975, which coincides with the 50% Fibonacci retracement level of the move from the $1,792 low to the $2,158 high.

If Ethereum fails to defend the $1,975 support, the price could fall toward $1,930 and $1,900. A breakdown below the final key support at $1,880 could completely undermine the short-term recovery. At present, Ethereum is defending the psychological support level of $2,000 while preparing for another attempt to break through the $2,150 barrier. Whether support levels hold and when key resistance is breached will serve as crucial indicators in determining whether Ethereum can eventually target the $2,500 mark.

In conclusion, Ethereum is undergoing a healthy correction following a strong rally, and the continuation of institutional buying interest is expected to determine its future direction. As Bitcoin approaches the $70,000 milestone and leads overall market sentiment, global investors are watching closely to see whether Ethereum can break through resistance and assert itself as the leading altcoin. Rather than reacting emotionally to short-term volatility, a disciplined strategy focused on monitoring key support levels is advised.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses resulting from reliance on this information. The content should be interpreted for informational purposes only.*