Ethereum (ETH) dropped below the $2,000 mark after failing to sustain gains above $2,050, with bearish technical indicators and a trend line resistance at $1,980 on the hourly chart suggesting the second-largest cryptocurrency could face further downside pressure toward the $1,900 support zone.
What Happened: ETH Breaks Below $2,000
ETH traded below both the $2,000 level and the 100-hourly Simple Moving Average after a correction from recent highs near $2,169. The decline pushed the price past the 50% Fibonacci retracement level of the upward move from the $1,745 swing low to that $2,169 high.
A bearish trend line has formed with resistance at $1,980 on the hourly ETH/USD chart.
Buyers showed some activity near the $1,900 level, but the hourly MACD continues gaining momentum in bearish territory while the RSI sits below 50.
On the upside, key resistance levels stand at $2,000 and $2,020, with a break above the latter potentially opening a path toward $2,165 and eventually $2,250 to $2,280. On the downside, failure to reclaim $2,000 could send the price toward $1,900, $1,850, and ultimately the $1,720 to $1,750 range.Now let me complete the article:
Also Read: Ethereum Stalls Below $2,050 As Bears Tighten Grip
Why It Matters: Bearish Signals Stack Up
The technical picture paints a concerning outlook for ETH holders. The hourly MACD is building bearish momentum, while the RSI has slipped below the neutral 50 mark — both indicators that sellers currently control the price action.
The $1,900 level, which aligns with the 61.8% Fibonacci retracement of the recent rally from $1,745 to $2,169, represents a critical line of defense.
A breach there would expose significantly lower targets at $1,850, $1,820, and eventually the $1,720 to $1,750 region, effectively erasing most of the prior recovery.
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