ETH IS RECOVERING MILDLY
There was an downsizing in ETH above the $2,400 level against the USD. However, Ethereum failed to test the $2,550 resistance zone.
The price broke many supports near the $2,300 and $2,272 levels. After that ETH tested the $2,000 support and started to recover itself. It climbed above the $2,150 and $2,200 levels.
However, the price is facing a strong resistance on the $2,272 and $2,300 levels. It failed to clear the 55 simple movement in 4h chart.
Now it is sliding again and trading below $2,155. An immediate support is near the $2,047 level. The main support is near the $2,000 level. If there is a daily close below the $2,000 level, there is a risk of a sharp decline in the coming sessions.
Conversely, the price might start a fresh to rise above the $2,275 resistance. The next critical resistance is near the $2,400 level.