Ethereum Recovery Stalls—Bears Keep Price Below $2K

Ethereum fails to rebound over $1,880. ETH has reversed gains and is below $1,880.

Ethereum fell below $1,850 and $1,880.

The price is below $1,850 and the 100-hour SMA.
The hourly ETH/USD chart broke below a positive trend line with support at $1,865.

To rise, the pair must break $1,865 and $1,890 barriers.

Ethereum Price Falls Again

Ethereum launched a comeback wave like Bitcoin by staying over $1,800. ETH broke $1,850 and $1,880 barriers.

Bulls even broke $1,920 resistance. However, bears are active around $1,950. After hitting $1,955, the price shed most gains. The hourly ETH/USD chart broke below a positive trend line with support at $1,865.

A low was created around $1,781 and the price is stabilizing near the 23.6% Fib retracement level of the decline from the $1,955 swing high.

Ethereum has fallen below $1,850 and the 100-hour SMA. The price may face resistance at $1,850 on the upside. Next resistance is approaching $1,865, the 50% Fib retracement level of the decline from the $1,955 swing high to the $1,781 low.

Near $1,920 is the first substantial resistance. A clean break over $1,920 might push the price above $1,950. Above $1,950 barrier might lead to greater advances in the following sessions. Ether may reach to $2,000 or $2,050 soon.

Another ETH drop?
Ethereum may fall again if it fails to break $1,865. Near $1,800 is first downside support. First significant support is around $1,780.

A decisive break below $1,780 might bring the price below $1,720. More losses might push the price beyond $1,680. The next support is $1,620.

Tech Indicators

The negative MACD for ETH/USD is growing.

Hourly RSI: ETH/USD is below 50.

Major Support—$1,780

Major Resistance: $1,865

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