Ethereum price failed to stay above $2,120 and extended losses. Ethereum price failed to stay above $2,120 and extended losses. ETH is now struggling to stay above $2,040 and might continue to move down in the near term.
Ethereum price failed to continue higher above $2,120 and started a fresh decline, like Bitcoin. ETH price declined below $2,075 and $2,050 to enter a bearish zone. There was a break below a bullish trend line with support at $2,075 on the hourly chart of ETH/USD. The price traded as low as $2,016.
If Ethereum fails to clear the $2,075 resistance, it could start a fresh decline. Initial support on the downside is near the $2,020 level. The first major support sits near the $2,000 zone. A clear move below the $2,000 support might push the price toward the $1,980 support.
Ethereum's technical structure shows signs of weakness as it struggles to maintain key support levels. The breakdown below the bullish trend line suggests further downside pressure, with the critical $2,000 psychological level now at risk. Traders are closely monitoring whether ETH can hold above this major support or if it will continue its descent toward lower levels.
