Ethereum Price Remains Below $2,020 Amid Bearish Trend Indicators

Ethereum Price Analysis

Ethereum price is supported above $1,980 but risks a downside break.
Struggled to maintain momentum above $2,050 and trades below $2,020.
A bearish trend line forms with resistance at $2,040.
Must clear $2,040 and $2,100 to initiate a significant upward move.

Price Movements

Ethereum tested a low of $1,982 after failing to surpass $2,100. A brief recovery above $2,020 was seen, testing the 50% Fib retracement level from the recent decline.

Currently, ETH trades below $2,020 and the 100-hourly Simple Moving Average. Resistance levels are identified at:

$2,040
$2,050
$2,095

A move above $2,095 may target $2,150, potentially leading to gains toward $2,250 or $2,320.

Potential Downside Risks

If Ethereum cannot break through $2,040, it may decline further. Key support levels include:

$2,000
$1,980
$1,880
$1,820
$1,750

Technical indicators show weakening momentum in the bearish zone for MACD and RSI below 50.