Ethereum is trading at $2,038.11, down 0.643% in the past 24 hours despite reaching an intraday high of $2,084. The price action shows a clear rejection at the $2,084 resistance level, followed by a steady decline that brought ETH back to current levels near the daily low of $2,021.50.
The hourly candle data reveals a volatile session with a significant spike occurring around 19 hours ago, where volume surged to 16,701 ETH as price jumped from $2,055 to $2,064 within the hour. However, this momentum was short-lived, and subsequent hours showed declining volume and bearish price action, particularly in the most recent sessions where ETH dropped from $2,048 to current levels.
With total 24-hour volume at 210.6 million USDT, the selling pressure appears measured rather than panic-driven. The price is now testing support around $2,038, and a break below this level could target the daily low at $2,021. Conversely, ETH would need to reclaim $2,060 to signal any near-term bullish momentum.
