Ethereum Price Struggles Below $2,000 - Bulls Face Key Resistance Hurdles

ETH Consolidates as Bulls Battle Near $1,920 - Can the Uptrend Resume?

Ethereum's recent attempt to break past the $2,000 resistance ended in disappointment, with the price retracing its gains and now consolidating below $1,950. The cryptocurrency faces stiff resistance at $1,890 and $1,950, keeping bullish momentum in check.

Ethereum Faces Strong Resistance

Much like Bitcoin, Ethereum encountered selling pressure after reaching the $2,020 mark, triggering a decline below the crucial $2,000 support. This downturn saw ETH slip into a bearish zone, accelerating losses until buyers stepped in near $1,750.

A low was established at $1,753 before ETH managed a modest rebound. The price climbed past the $1,780 and $1,850 resistance levels, breaching the 23.6% Fibonacci retracement level of the drop from its $2,150 swing high to the $1,753 low. However, despite this recovery, Ethereum remains below the $1,950 mark and the 100-hourly Simple Moving Average (SMA), indicating ongoing selling pressure.

On the upside, Ethereum is encountering resistance at $1,890, where a short-term bearish trend line is forming on the ETH/USD hourly chart. The next major hurdle stands at $1,920, with a stronger barrier at $1,950, which coincides with the 50% Fibonacci retracement level of its latest downtrend.

A decisive move above $1,950 could open the doors for a rally toward the $2,000 resistance. If ETH successfully breaks this level, further gains may push it toward $2,120 or even $2,250 in the near term.

Ethereum at Risk of Further Losses?

If Ethereum fails to break above the $1,890 resistance, another decline could be on the horizon. Initial support lies at $1,845, followed by a critical support zone near $1,800.

A breach below $1,800 could intensify selling pressure, potentially driving ETH down to $1,750. Any further losses might expose the cryptocurrency to declines toward $1,720 or even the $1,650 level.

Technical Indicators

• Hourly MACD – The MACD for ETH/USD is losing momentum in the bearish zone.
• Hourly RSI – The RSI for ETH/USD remains below 50, signaling weak bullish strength.
• Major Support Levels – $1,800, followed by $1,750 and $1,720.
• Major Resistance Levels – $1,890, $1,950, and $2,000.

Ethereum’s price action suggests that bulls have a tough road ahead. A breakthrough above $1,950 could shift momentum in favor of buyers, while failure to hold key support levels may trigger a fresh wave of losses.