Ethereum Price Struggles to Break $1,865 Resistance Level

Ethereum Price Update

Ethereum struggled to maintain levels above $1,850 and $1,880.
Current trading is below $1,850 and the 100-hourly Simple Moving Average.
A key bullish trend line support at $1,865 has been breached.
Upside resistance levels are at $1,865 and $1,890 for a potential increase.

After attempting recovery above the $1,800 support, Ethereum reached a high of $1,955 but faced selling pressure. The price retreated to form a low at $1,781 and is now consolidating near the 23.6% Fibonacci retracement level from the recent high.

Key resistance levels include:

$1,920 as the first major resistance
$1,950 if the price clears $1,920
Potential rise toward $2,000 or $2,050 if above $1,950

If Ethereum cannot surpass $1,865, it may decline further. Immediate support levels are:

$1,800
$1,780 as first major support
$1,720 and $1,680 if losses continue
$1,620 as the next key support

Technical indicators show bearish momentum with the MACD gaining strength in the bearish zone and RSI below 50.