Ethereum Price Stalls Under Resistance With Breakout Hopes Delayed

Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing How Our News is Made Strict editorial policy that focuses on accuracy, relevance, and impartiality Ad discliamer Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. Ethereum price found support near $1,922 and recovered some losses. ETH is now consolidating and faces key hurdles near $2,000. Ethereum is attempting a fresh recovery wave above $1,960. The price is trading below $1,985 and the 100-hourly Simple Moving Average. There is a bearish trend line forming with resistance at $2,000 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a fresh decline if it stays below the $2,000 zone. Ethereum Price Revisits Support Ethereum price failed to stay above $2,000 and started a fresh decline, like Bitcoin . ETH price traded below the $1,960 and $1,950 levels to enter a bearish zone. Finally, the bulls appeared near $1,920. A low was formed at $1,922, and the price started a recovery wave . There was a move above the $1,950 resistance. The price surpassed the 38.2% Fib retracement level of the downward move from the $2,038 swing high to the $1,922 low. Ethereum price is now trading below $1,980 and the 100-hourly Simple Moving Average. If the bulls remain in action above $1,925, the price could attempt another increase. Immediate resistance is seen near the $1,980 level. The first key resistance is near the $2,000 level or the 61.8% Fib retracement level of the downward move from the $2,038 swing high to the $1,922 low. Source: ETHUSD on TradingView.com There is also a bearish trend line forming with resistance at $2,000 on the hourly chart of ETH/USD. The next major resistance is near the $2,020 level. A clear move above the $2,020 resistance might send the price toward the $2,050 resistance. An upside break above the $2,050 region might call for more gains in the coming days. In the stated case, Ether could rise toward the $2,120 resistance zone or even $2,150 in the near term. Another Decline In ETH? If Ethereum fails to clear the $2,000 resistance, it could start a fresh decline. Initial support on the downside is near the $1,935 level. The first major support sits near the $1,925 zone. A clear move below the $1,925 support might push the price toward the $1,880 support. Any more losses might send the price toward the $1,840 region. The main support could be $1,820. Technical Indicators Hourly MACD – The MACD for ETH/USD is losing momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now near the 50 zone. Major Support Level – $1,920 Major Resistance Level – $2,000