This summary text is fully AI-generated and may therefore contain errors or be incomplete.
Ethereum price is experiencing a downward trend, moving lower from $2,130. It is currently trading below the $2,060 zone and the 100-hourly Simple Moving Average. There is a major bearish trend line forming with resistance near $2,040. The price could continue to decline towards the $1,920 support zone. After struggling near $2,130, Ethereum formed a high at $2,132 and started moving downwards. It broke below the $2,100 and $2,080 levels, even dropping below the $2,000 support. However, there was a minor recovery wave above the $2,020 level. The immediate resistance for Ethereum is near the $2,040 zone, followed by the $2,060 level. A clear move above $2,100 could push the price towards the $2,135 resistance zone. Further resistance levels are at $2,150 and $2,200. If Ethereum fails to clear the $2,040 resistance, it may experience further decline. The initial support is near the $2,000 level, followed by $1,985. A break below $1,985 could lead to a drop towards the $1,920 support. The key support level is now at $1,885, with a potential move towards $1,820. The technical indicators show that the MACD for ETH/USD is losing momentum in the bullish zone, while the RSI is below the 50 level. In summary, Ethereum price is currently facing bearish signs and may continue to decline towards the $1,920 support zone.