Technically, the 2-hour chart indicators are struggling to move higher in the bearish territory.
Ether Price Analysis
Yesterday, ETH/USD started a decent rebound after testing the $125.00 support. The pair corrected above the $140.00 level, but it faced a strong resistance near the $145.00 zone and later trimmed most gains.
ETH/BTC settled below the 0.0300BTC support level, with a bearish angle. If the pair fails to trade above 0.0300BTC and 0.0305BTC, it could decline further toward the 0.0285BTC support.
Looking at the 2-hour chart of ETH/USD, the pair recovered sharply from the $125.16 swing low. It climbed above the $135.00 and $140.00 levels, but it faced the key resistance near $145.00 and the 61.8 percent Fibonacci retracement level of the drop from $159.31 to $125.16.
More importantly, Ether was rejected near a crucial bearish trendline, with current resistance at $182.06 on the same chart. The price declined and retested the $125.00 support level. A new 2018 low was formed at $124.96 and the price is currently consolidating above $130.00.
Ether traded above the $135.00 level recently and the 50 percent Fibonacci retracement level of the recent decline from the $147.63 high to $124.96 low. However, the $140.00 level and a bearish trendline on the 30-minute chart acted as a resistance.
The price is currently under pressure below $140.00 and it could slide toward $130.00, below which the next major support awaits at $125.00. Conversely, to start a solid upward move, ETH/USD must break the $140.00 and $145.00 resistance levels in the coming sessions.