Ethereum (ETH) slid back below the $2,000 mark after failing to sustain gains above $2,050, breaking a bullish trend line on the hourly chart and raising the prospect of further losses toward the $1,930 support zone.
What Happened: ETH Breaks Support
ETH/USD broke below a bullish trend line with support at $2,035 on the hourly chart and sellers pushed the price through the $2,020 and $1,980 levels in rapid succession. The decline retraced more than 50% of the upward move from the $1,895 swing low to the $2,106 high.
The token now trades below the 100-hourly Simple Moving Average. Immediate resistance sits at $1,980, with the more significant barrier at $2,000, while a move above $2,025 and then $2,045 would be needed to shift momentum back in favor of buyers.
On the downside, initial support rests near $1,945, with the critical level at $1,930 — the 83.2% Fibonacci retracement of that same upward swing. A break below $1,930 opens the door to $1,880 and potentially $1,820, with $1,780 serving as the last major floor.
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Why It Matters: Bearish Momentum Builds
Technical indicators reinforce the bearish case. The hourly MACD is gaining momentum in negative territory, and the RSI has dropped below the 50 level — both signals that sellers remain in control of the short-term trend.
For bulls, the $2,000 level is the line in the sand. Failure to reclaim it could trigger another wave of selling, while a sustained push above $2,045 would open a path toward $2,120 and $2,150.
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