Ethereum is undergoing a short-term correction after failing to maintain levels above $2,145. The cryptocurrency dipped below $2,125 but remains supported above $2,100 and the 100-hour simple moving average (SMA). Traders are closely monitoring resistance around $2,110 on the hourly chart of ETH/USD, with a bearish trend line forming. For a bullish scenario, Ethereum needs to surpass immediate resistance at $2,110, followed by $2,140–$2,150. A successful breach could propel ETH towards $2,220, with potential further gains to $2,250 and $2,320. Conversely, failure to reclaim $2,110 may lead to a decline, with initial support at $2,075 and major support at $2,055. A drop below $2,055 could see ETH testing $2,020 and $2,000, with deeper support near $1,940.