Ethereum’s price has begun a fresh decline, falling below $1,900. ETH is now consolidating its losses and may face difficulty recovering above the $1,920 or $1,950 levels.
After failing to hold above $1,950, Ethereum started to drop again. The price is currently trading below $1,920 and the 100-hour Simple Moving Average. A bearish trend line is forming with resistance at $1,950 on the hourly ETH/USD chart. If the pair remains below $1,920, it could trigger another decline.
Ethereum Price Drops Significantly
Similar to Bitcoin, Ethereum could not maintain its position above $1,920 and initiated a new downturn. The price fell below $1,900 and $1,880, entering a bearish zone. Buyers eventually stepped in around $1,850, forming a low at $1,845 before a minor recovery began.
The price moved above $1,865 but remains well below the 23.6% Fibonacci retracement level of the drop from the $1,994 high to the $1,845 low. Ethereum is now trading below $1,900 and the 100-hour Simple Moving Average.
If buyers continue to defend the $1,850 level, the price may attempt another increase. Immediate resistance is near $1,880, with the first key resistance around $1,920. This level aligns with the 50% Fibonacci retracement of the recent decline. The next major resistance is near $1,950, coinciding with the bearish trend line on the hourly chart.
A clear break above $1,950 could push the price toward the $2,000 resistance. Surpassing $2,000 might lead to further gains, potentially targeting $2,050 or even $2,120 in the near term.
Potential for Another Decline
If Ethereum fails to overcome the $1,920 resistance, it could start another decline. Initial support lies near $1,850, followed by a major support zone around $1,825. A break below $1,825 might push the price toward $1,780, with further losses possibly testing $1,740. The main support level is around $1,720.
Technical Indicators
Hourly MACD: The MACD for ETH/USD is gaining momentum in the bearish zone.
Hourly RSI: The RSI is now below the 50 level.
Major Support Level: $1,850
Major Resistance Level: $1,920
Frequently Asked Questions
FAQs Ethereums Recent Price Drop Strengthening Downtrend
BeginnerLevel Questions
1 Why did Ethereums price drop by 6
Ethereums price like most cryptocurrencies is influenced by market sentiment broader economic factors and trading activity A 6 drop can be triggered by a combination of things like negative news in the crypto space a general market selloff large investors selling holdings or concerns about future regulations
2 What does a downtrend mean
A downtrend means the overall price direction is moving downward over a period of time Instead of making higher highs and higher lows the price is making lower highs and lower lows The recent drop and strengthening signals suggest this downward momentum may continue in the short term
3 Should I sell my Ethereum now
This is a personal financial decision we cannot make for you Cryptocurrency is volatile Its important not to panicsell based on shortterm movements Consider your original investment goals risk tolerance and only invest what you can afford to lose Many investors use downtrends as opportunities to research and potentially buy at lower prices but this carries risk
4 Is this drop specific to Ethereum or is the whole crypto market down
Often when Bitcoin or Ethereum moves significantly the rest of the market follows Check major market indexes If Bitcoin and other major altcoins are also down this is likely a broad market correction If only Ethereum is down it could be due to Ethereumspecific news or developments
5 Where can I reliably check Ethereums price and trends
Use reputable tracking websites and apps like CoinMarketCap CoinGecko or the charts on major exchanges like Coinbase or Binance These provide realtime prices historical charts and trading volume data
Advanced Practical Questions
6 What technical indicators are suggesting the downtrend is significantly stronger
Traders look for confirmations like
Price breaking below key support levels A previous price floor that held is now broken
Moving Averages The price falling below important moving averages and these averages beginning to slope downward