Ethereum price is facing an increased bearish pressure as it remains below the $1,900 resistance zone against the US Dollar. ETH is struggling to clear the $1,915 and $1,940 resistance levels. If there is an upside break above the $1,915 resistance, the price is likely to climb toward the $2,000 resistance. Otherwise, there could be a downside extension towards the $1,800 and $1,740 support levels. On the hourly chart of ETH/USD, there is a major bearish trend line forming with resistance near $1,900. A successful close above the $1,915 and $1,940 resistance levels could kick-start a steady rise towards the $2,000 level.
Adriana Parker
- 2023-05-08
Ethereum Price Faces Increased Bearish Pressure
Ethereum price is facing an increased bearish pressure as it remains below the $1,900 resistance. There could be a downside extension towards the $1,800 and $1,740 support levels if the price fails to break the $1,915 resistance level.
