Ethereum Price Trapped Below $2,320, Recovery Hopes Start Fading

Ethereum price started a recovery wave above the $2,280 zone. ETH is now consolidating and might struggle to continue higher above the $2,320 resistance. Ethereum started a recovery wave from the $2,235 zone. The price is trading below $2,300 and the 100-hourly Simple Moving Average. There is a bullish trend line forming with support at $2,260 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a fresh decline if it stays below the $2,320 zone. Ethereum Price Faces Hurdle