Ethereum price started a fresh decline and traded below $2,080. ETH is now 
consolidating above $2,050 and might struggle to recover. Ethereum remained in 
a bearish zone after a fresh decline. The price is trading below $2,100 and 
the 100-hourly Simple Moving Average. There was a break below a bullish trend 
line with support at $2,095 on the hourly chart of ETH/USD (data feed via 
Kraken). The pair could continue to move down if it stays below the $2,100 
zone. Ethereum Price Consolidates Losses Ethereum price failed to remain 
stable above $2,120 and started a downside correction, like Bitcoin. ETH price 
dipped below the $2,110 and $2,100 levels. The price even traded below $2,080. 
Besides, there was a break below a bullish trend line with support at $2,095 
on the hourly chart of ETH/USD. A low was formed at $2,052, and the price is 
now attempting to recover. There was a recovery wave above the 23.6% Fib 
retracement level of the downward move from the $2,138 swing high to the 
$2,052 low. Ethereum price is now trading below $2,100 and the 100-hourly 
Simple Moving Average. If the bulls remain in action above $2,050, the price 
could attempt another increase. Immediate resistance is seen near the $2,085 
level or the 38.2% Fib retracement level of the downward move from the $2,138 
swing high to the $2,052 low. The first key resistance is near the $2,100 
level. The next major resistance is near the $2,120 level. A clear move above 
the $2,120 resistance might send the price toward the $2,150 resistance. An 
upside break above the $2,150 region might call for more gains in the coming 
days. In the stated case, Ether could rise toward the $2,220 resistance zone 
or even $2,250 in the near term. Another Drop In ETH? If Ethereum fails to 
clear the $2,100 resistance, it could start a fresh decline. Initial support 
on the downside is near the $2,065 level. The first major support sits near 
the $2,050 zone. A clear move below the $2,050 support might push the price 
toward the $2,020 support. Any more losses might send the price toward the 
$1,940 region. The main support could be $1,920. Technical Indicators Hourly 
MACD – The MACD for ETH/USD is losing momentum in the bearish zone. Hourly RSI 
&#8211; The RSI for ETH/USD is now below the 50 zone. Major Support Level – $2,050 
Major Resistance Level – $2,150

Ethereum price started a fresh decline and traded below $2,080. ETH is now consolidating above $2,050 and might struggle to recover. Ethereum remained in a bearish zone after a fresh decline. The price is trading below $2,100 and the 100-hourly Simple Moving Average. There was a break below a bullish trend line with support at &#8230;

Ethereum Price Struggles Near Key Levels As Market Sentiment Weakens

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Ethereum Price Struggles Near Key Levels As Market Sentiment Weakens

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