Ethereum Price Weakens—Can Bulls Stop a Major Breakdown?

Ethereum fell below $1,880 again. ETH is consolidating and risking additional losses.

Ethereum fought over $2,000 barrier.
The price is below $1,880 and the 100-hour SMA.

On the hourly ETH/USD chart, a negative trend line connects to $1,820 barrier.

To rise, the pair must break $1,820 and $1,880 barriers.

Ethereum Drops Again

Ethereum, like Bitcoin, fell below $2,100. Below $1,920 and $1,880 support, ETH fell.

It approached $1,765. The price lately tried to rise from $1,767, its low. The price moved over $1,800, but it is still below the 23.6% Fib retracement level of the latest slide from $2,033 swing high to $1,767 low.

Ethereum has fallen below $1,880 and the 100-hour SMA. On the hourly ETH/USD chart, a negative trend line connects to $1,820 barrier.

The price may face resistance at $1,820 on the upside. Next important barrier is approaching $1,880, the 50% Fib retracement level of the current slide from $2,033 swing high to $1,767 low. Near $1,920 is the first substantial resistance.

Ethereum Price: ETHUSD on TradingView.com.
A clean break over $1,920 might push the price above $2,000. Above $2,000 barrier might lead to greater advances in the following sessions. Ether might soar to $2,050 or $2,120 in the short future.

More ETH losses?
Ethereum may fall again if it fails to break $1,880. At $1,780, downward support begins. Near $1,765, substantial support begins.

A decisive break below $1,765 might bring the price around $1,720. More losses might push the price beyond $1,680. The next support is $1,650.

Tech Indicators

ETH/USD hourly MACD is losing momentum in the negative zone.

Hourly RSI: ETH/USD is below 50.

Major Support—$1,765

Major Resistance: $1,880

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