Ethereum remains under pressure, failing to reclaim the $2,000 resistance level. The price is consolidating, facing a key hurdle at $1,920.
- ETH dipped below $2,000 support once again.
- Trading below $1,950 and the 100-hour SMA.
- A short-term bearish trend line on the ETH/USD hourly chart shows resistance at $1,890.
- A breakout above $1,890 and $1,950 is crucial for further upside.
### **Ethereum Faces Strong Resistance**
Ethereum extended its decline from the $2,020 zone, mirroring Bitcoin’s price action. Bears gained momentum, driving the price below the critical $2,000 support level.
Sellers intensified pressure, pushing ETH to break $1,820 before bulls emerged near $1,750. After hitting a low of $1,753, Ethereum started a recovery, reclaiming the $1,780 and $1,850 levels.
The price moved above the 23.6% Fibonacci retracement level of the decline from the $2,150 swing high to the $1,753 low. However, ETH remains below $1,950 and the 100-hour SMA.
On the upside, resistance stands at $1,890, aligned with a bearish trend line on the hourly ETH/USD chart. Beyond that, the next major resistance is at $1,920, with the first key hurdle at $1,950—the 50% Fibonacci retracement level of the recent downtrend.
A clear break above $1,950 could pave the way for Ethereum to retest $2,000. If bullish momentum continues, ETH might surge toward $2,120 or even $2,250 in the coming sessions.
### **More Downside for Ethereum?**
If Ethereum fails to break the $1,890 resistance, another drop could be imminent. Initial support lies near $1,845, followed by a stronger support zone around $1,800.
A decisive move below $1,800 could send ETH toward $1,750. Continued selling pressure might drive the price lower, testing $1,720 or even $1,650.
### **Technical Indicators**
- **MACD (Hourly ETH/USD):** Losing momentum in the bearish zone.
- **RSI (Hourly ETH/USD):** Below 50, signaling weak bullish strength.
- **Major Support Levels:** $1,800, $1,750
- **Major Resistance Levels:** $1,890, $1,950
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