Ethereum (ETH) continues to trade below the crucial $2,000 level and has faced selling pressure and fluctuations around $1,900, failing to establish an upward trend. The cryptocurrency market is dominated by sellers, causing Ethereum’s price to drop over 57%, making its return to an upward trajectory challenging. Ethereum’s price is currently below a multi-year support level that could turn into a strong resistance, hindering price recovery. Key data indicates $1,870 as crucial support and $2,050 as significant resistance. Crossing this resistance level could signal a trend reversal. Investors closely monitor Ethereum’s movements amidst market instability. If the price falls below the support level, further declines are likely, but a recovery above the resistance may restore market confidence. Ethereum is at its lowest level since October 2023 and failing to reclaim $2,000 may escalate selling pressure. Global economic factors like financial instability and trade concerns increase the likelihood of a deeper correction. Analyst Ali Martinez believes $1,870 is Ethereum’s strongest support, warning of further declines if this level is breached. Currently, Ethereum trades around $1,920 and needs to reclaim $2,000 for recovery. Crossing the simple moving average of 200 ($2,397) and exponential moving average of 200 ($2,354) on the 4-hour chart could indicate an upward trend reversal. Otherwise, selling pressure might push the price down to $1,750, intensifying the downtrend. Visit the real-time digital currency price page for live updates on token and cryptocurrency prices.
