Ethereum (ETH) is showing signs of a fragile recovery after finding strong support near the $2,440 level, mirroring Bitcoin’s recent bounce. The price rebounded above the $2,500 and $2,550 resistance zones, even managing a brief spike past $2,620. However, the upside momentum appears to be fading once again.

The recent rebound saw ETH climb above the 23.6% Fibonacci retracement level, measuring from the $2,880 swing high to the $2,440 low. Yet, bullish attempts stalled near the $2,660 resistance, which also coincides with the 50% Fib retracement level of the same move — a level now firmly defended by bears.

Currently, Ethereum is trading below $2,575 and the 100-hourly Simple Moving Average, suggesting short-term weakness. Still, a bullish trend line support remains intact near $2,525 on the hourly chart of ETH/USD, keeping the possibility of a bounce alive.

On the upside, Ethereum faces immediate resistance at $2,620, followed by $2,640, and a stronger barrier at $2,660. A decisive break above $2,660 could open the door for a move toward the $2,720 resistance. If momentum builds beyond that, ETH could target $2,800 or even retest the $2,880 swing high in the near term.

In the meantime, ETH traders are watching closely for whether $2,525 support holds, as a break below this level could intensify selling pressure and delay any potential bullish breakout.