BEARISH 📉 : Ethereum struggles under $2,000 resistance amid potential decline

Ethereum Price Analysis

  • Ethereum found support near $1,922 and is attempting a recovery wave above $1,960.
  • ETH is trading below $1,985 and the 100-hourly SMA, facing resistance at $2,000.
  • A bearish trend line is forming on the hourly chart with resistance at $2,000.
  • The price could decline again if it remains below the $2,000 zone.

Price Movement and Key Levels

  • Ethereum fell below $2,000, entering a bearish zone with a low at $1,922.
  • The price surpassed the 38.2% Fib retracement level from $2,038 to $1,922.
  • If bulls hold above $1,925, ETH might aim for the $2,000 resistance, potentially reaching $2,020 or $2,050.
  • An upside break could drive the price towards $2,120 or $2,150.

Ethereum Price

Potential Decline

  • If Ethereum fails to clear $2,000, support lies at $1,935 and $1,925.
  • Breaking below $1,925 could lead to further declines toward $1,880 or $1,840.
  • Main support is expected at $1,820.

Technical Indicators

  • Hourly MACD: Losing momentum in the bullish zone.
  • Hourly RSI: Near the 50 zone.
  • Major Support Level: $1,920.
  • Major Resistance Level: $2,000.