CandleFocus

Ethereum Price Turns Bearish Below $2,000—More Losses Ahead?

Author: Content Editor
The Ethereum price attempted to break the $2,120 resistance level but was unsuccessful, leading to a decline below the $2,000 support. Currently, ETH is consolidating and facing hurdles near the $2,000 level. The bears gained strength, pushing the price below the $1,880 support, but the bulls found support near the $1,750 zone. The price is now attempting a recovery wave and has cleared the $1,800 and $1,820 resistance levels. However, it is still trading below $2,000 and the 100-hourly SMA. The key resistance levels to watch are $1,880, $1,950, and $2,000, while the key support levels are $1,800, $1,750, and $1,680. If the price fails to clear the $1,880 resistance, it may start another decline towards the $1,680 or $1,620 support levels. On the other hand, a clear break above the $2,120 resistance could lead to further gains, potentially reaching $2,250 or $2,350 in the near term. The technical indicators, MACD and RSI, support the current bearish trend.

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