Ethereum is maintaining a bullish bias as it consolidates above $2,120, following a recent surge past $2,250. The cryptocurrency is currently trading above $2,180 and the 100-hourly Simple Moving Average, with a declining channel resistance at $2,225 on the ETH/USD hourly chart. A sustained position above $2,140 could trigger a fresh upward move, targeting resistances at $2,225 and potentially $2,265. If Ethereum surpasses the $2,265 resistance, it may aim for $2,320, with further gains possibly pushing it towards $2,400 or even $2,450. Conversely, failure to clear the $2,225 resistance could lead to a decline, with initial support at $2,165 and major support at $2,140. A drop below $2,140 might see Ethereum testing the $2,110 and $2,060 support levels.