Ethereum Price Dips Below $1,900, Faces Key Resistance at $1,920

Ethereum’s price action has turned decisively negative, failing to maintain its footing above the $1,950 level. According to data from the Kraken exchange, ETH subsequently broke below the $1,920 and $1,900 support zones, entering what analysts term a bearish zone. The decline found a temporary floor near $1,845, where buying interest emerged to spark a minor recovery wave. However, this bounce has been weak, with the price struggling to reclaim even the 23.6% Fibonacci retracement level of the drop from the $1,994 swing high.

Critically, Ethereum is now trading not only below the psychologically important $1,900 mark but also beneath the 100-hourly Simple Moving Average (SMA). This positioning below a key moving average is a classic technical signal of bearish near-term momentum, confirming that sellers are in control. The failure to hold higher ground mirrors broader market weakness often associated with Bitcoin (BTC), highlighting the correlated nature of major cryptocurrency moves.

For Ethereum to stage any meaningful recovery, it must navigate a series of formidable resistance levels. The immediate hurdle is the $1,880 zone. Beyond that, the first major resistance cluster sits at $1,920. This level is significant not only as prior support but also because it aligns with the 50% Fibonacci retracement level of the recent downward move from $1,994 to $1,845.

The most substantial barrier, however, is forming at $1,950. A bearish trend line is crystallizing with resistance precisely at this level on the hourly chart for the ETH/USD pair. A decisive and high-volume break above this trend line and the $1,950 resistance could shift market sentiment, potentially propelling the price toward the $2,000 resistance region. In an optimistic scenario, a sustained move above $2,000 could open the path for gains toward $2,050 or even $2,120 in the near term.

Should Ethereum fail to clear the $1,920 resistance, the risk of a fresh decline increases substantially. The immediate and crucial support to watch is the recent low area around $1,850. A clear move below this level would signal that the minor recovery has failed and that bearish momentum is resuming.

The first major support below $1,850 sits near the $1,825 zone. A breach here could accelerate selling, pushing the ETH price toward the $1,780 support level. Any further losses might then see the cryptocurrency test the $1,740 region, with the main support for a deeper correction potentially lying as low as $1,720. The integrity of the $1,850 level is therefore paramount for bulls hoping to prevent a steeper sell-off.

The current technical picture, as detailed in the analysis, solidifies the cautious outlook. The hourly Moving Average Convergence Divergence (MACD) indicator for ETH/USD is gaining momentum in the bearish zone, suggesting increasing downward pressure. Simultaneously, the hourly Relative Strength Index (RSI) is trading below the neutral 50 level, indicating that selling momentum currently outweighs buying momentum.

These indicators collectively underscore the challenging environment for Ethereum. With major resistance at $1,920 and major support at $1,850, the price is caught in a tightening range. The next decisive break from this consolidation—whether above $1,920 or below $1,850—will likely dictate the short-to-medium-term trajectory for the world’s second-largest cryptocurrency.