The Ethereum price has started to recover after a significant decline, rising nearly 10%. However, it now faces a major resistance level at $2,920. The price had previously dropped below key levels such as $2,800 and $2,500, entering a bearish zone. After hitting a low of $2,127, Ethereum started an upward move and surpassed the $2,500 level. The price is currently trading below $2,900 and the 100-hourly Simple Moving Average, with major resistance at $2,920. If it fails to break this resistance, Ethereum could see another decline, with initial support at $2,765 followed by $2,650 and $2,500. On the upside, a clear move above the $3,000 resistance could lead to further gains towards $3,120, $3,250, or even $3,320 in the near term. The technical indicators suggest bullish momentum with the MACD in the bullish zone and the RSI above 50.



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