#Ethereum $ETH

Ethereum price started another decline and traded below the $1,850 level. ETH is now consolidating and facing key hurdles near the $1,850 level.

Ethereum struggled to continue higher above the $1,980 resistance level.

The price is trading below $1,860 and the 100-hourly Simple Moving Average.

There was a break above a connecting bearish trend line with resistance at $1,810 on the hourly chart of ETH/USD (data feed via Kraken).

The pair must clear the $1,850 and $1,880 resistance levels to start a decent increase.

Ethereum Price Attempts Recovery

Ethereum price failed to continue higher above $2,050 and started another decline, like Bitcoin. ETH declined below the $1,880 and $1,850 support levels.

It tested the $1,765 zone. A low was formed at $1,767 and the price recently started a short-term recovery wave. The price climbed above the $1,800 resistance. There was a move above the 23.6% Fib retracement level of the downward move from the $2,033 swing high to the $1,767 low.

There was also a break above a connecting bearish trend line with resistance at $1,810 on the hourly chart of ETH/USD. Ethereum price is now trading below $1,860 and the 100-hourly Simple Moving Average.

On the upside, the price seems to be facing hurdles near the $1,850 level. The next key resistance is near the $1,860 level. The first major resistance is near the $1,900 level and the 50% Fib retracement level of the downward move from the $2,033 swing high to the $1,767 low.