Ethereum Faces Resistance Below $2,000 Amid Bearish Trend
- Ethereum price declined below $2,000 and is trading under the key resistance level.
- The price broke below a bullish trend line with support at $2,035 on the hourly chart of ETH/USD.
- ETH is consolidating near the $1,950 support level after failing to sustain above $2,050.
- The pair’s immediate resistance is near $1,980, with major resistance at the $2,000 level.
Ethereum’s price has entered a bearish zone after failing to maintain levels above $2,050 and breaking significant support lines. The cryptocurrency is now consolidating below its critical resistance points and remains vulnerable to further declines if it does not surpass the $2,000 mark.
If Ethereum cannot overcome the resistance levels near $2,000 and continues its downward trend, it risks declining toward lower support zones around $1,930 or even further down to $1,880. Source
