Ethereum's price is undergoing a short-term correction after failing to break above the $2,125 resistance level. The price has declined below $2,100 and $2,080, but has found support near $2,050 and is slowly moving higher. The price is currently trading above the 100-hourly Simple Moving Average and there was a break above a key bearish trend line with resistance near $2,080. The next major resistance is near the $2,125 zone or the recent high. If the price gains bullish momentum and there is a clear move above $2,100, it could spark another rally towards the $2,200 resistance and possibly the $2,320 resistance in the coming days. However, if Ethereum fails to clear the $2,100 resistance, it could continue to move down towards the $2,050 and $2,000 levels. The hourly MACD for ETH/USD is losing momentum in the bearish zone, while the RSI is just below the 50 level. (newsbtc)