Ethereum price started a fresh decline and traded below $2,020. ETH is now consolidating near $2,000 and might struggle to recover.
Ethereum remained in a bearish zone after a fresh decline below $2,020.
The price is trading below $2,020 and the 100-hourly Simple Moving Average.
There is a bearish trend line forming with resistance at $2,010 on the hourly chart of ETH/USD (data feed via Kraken).
The pair could continue to move down if it stays below the $2,050 zone.
Ethereum Price Extends Losses
Ethereum price failed to remain stable above $2,050 and started a fresh decline, like Bitcoin. ETH price dipped below the $2,020 and $2,000 levels.
The price even traded below $1,980. A low was formed at $1,964, and the price is now showing many bearish signs. There was a minor recovery wave above the 23.6% Fib retracement level of the downward move from the $2,139 swing high to the $1,964 low. Besides, there is a bearish trend line forming with resistance at $2,010 on the hourly
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