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BEARISH 📉 : Ethereum struggles to break $1,950 resistance amid recovery attempts
Ethereum Price Update
- Ethereum recently declined below $1,865.
- The price is attempting to recover from the $1,800 zone and is trading above $1,900 and the 100-hourly Simple Moving Average.
- A bearish trend line with resistance at $1,935 is forming on the hourly chart of ETH/USD.
- If Ethereum remains below the $1,950 zone, it may experience a fresh decline.
Recovery Efforts
- Ethereum failed to maintain its position above $1,880, similar to Bitcoin.
- The price dropped below $1,850 and $1,820 but found support near $1,800.
- A minor recovery wave started, moving above $1,900 and surpassing the 50% Fib retracement level from $1,995 to $1,793.
- Immediate resistance levels are $1,925 and $1,950. A move above $1,965 could push the price toward $2,020 and beyond.

Potential Downside
- If Ethereum fails to break the $1,950 resistance, it might decline again.
- Initial support levels are $1,900 and $1,870.
- A drop below $1,870 could lead to further declines toward $1,845 and $1,800.
- Major support is at $1,780.
Technical Indicators
- Hourly MACD: Gaining momentum in the bullish zone.
- Hourly RSI: Above the 50 mark.
- Key Support Level: $1,870
- Key Resistance Level: $1,950