BEARISH 📉 : Ethereum price struggles below key resistance, risks further decline

Ethereum Price Update

  • Ethereum found support at $1,905, recovering some losses.
  • The price is below $1,980 and the 100-hourly Simple Moving Average.
  • A bearish trend line forms with resistance at $1,985 on the hourly ETH/USD chart.
  • Key resistances are near $1,985 and $2,000. A move above $2,000 might push towards $2,050.
  • If unable to clear $1,985, a decline could target supports at $1,935 and $1,905.

Ethereum Price

Technical Indicators

  • MACD: Losing momentum in the bullish zone.
  • RSI: Above 50, indicating potential bullishness.
  • Major Support: $1,905
  • Major Resistance: $1,985