Ethereum Price Consolidates Above $2,220 Amid Weak Recovery Momentum

Ethereum's price has been experiencing a period of consolidation after dipping below $2,250. The cryptocurrency is currently trading above $2,220 and may struggle to recover from its recent losses.

The price has formed a contracting triangle on the hourly chart, with support at $2,255. This suggests that Ethereum may be in for another decline if it fails to clear the $2,280 resistance level.

Despite the weak recovery momentum, there are some potential upside targets for Ethereum. A clear move above the $2,320 resistance could send the price toward $2,375, and a further break above this level might lead to more gains in the coming days.