BEARISH 📉 : Ethereum price struggles below $2,000 amid bearish pressures

Ethereum Price Analysis

  • Ethereum's price found support near $1,920 and began recovery.
  • The price is consolidating below $2,000 and the 100-hourly SMA.
  • A bullish trend line offers support at $1,955 on the hourly ETH/USD chart (via Kraken).
  • If Ethereum remains under $2,020, it could face a fresh decline.

Support and Resistance Levels

  • Immediate resistance is near $2,015, with key resistance at $2,035.
  • A significant move above $2,060 could propel Ethereum towards $2,100 and potentially $2,150 or $2,185.
  • If unable to surpass $2,015, Ethereum might decline again.
  • Initial downside support is found at $1,965, with major support at $1,955.
  • Further declines could see support levels at $1,920, $1,880, and possibly $1,825.

Ethereum Price

Technical Indicators

  • Hourly MACD: Gaining momentum in the bullish zone for ETH/USD.
  • Hourly RSI: Positioned above the 50 level for ETH/USD.
  • Major Support Level: $1,920
  • Major Resistance Level: $2,015