Ethereum’s price has been falling and recently dropped below $2,120. It’s currently stabilizing above $2,050, but a significant price increase seems unlikely at the moment.
- Ethereum remained in a bearish zone after a sharp decline.
- The price is trading below $2,165 and the 100-hourly Simple Moving Average.
- There is a connecting trend line forming with support at $2,020 on the hourly chart of ETH/USD (data feed via Kraken).
- The pair could continue to move down if it stays below the $2,200 zone.
Ethereum Price Consolidates Losses
Similar to Bitcoin, Ethereum’s price couldn’t hold steady above $2,200 and began to fall. It dropped below both $2,165 and $2,150.
The price briefly fell below $2,020, reaching a low of $1,914 on Kraken. It’s now trying to regain most of what it lost. The price bounced back, moving above the 61.8% Fibonacci retracement level, measured from the recent high of $2,198 down to the low of $1,914.
As an analyst, I’m currently observing that Ethereum’s price has fallen below $2,165 and is now trading under its 100-hour Simple Moving Average. Looking at the hourly chart, I’ve also identified a developing trend line that appears to be providing support around the $2,020 level.
If the price stays above $2,020, it might try to climb higher. Initial resistance—meaning a price level where the increase could slow down—is around $2,150. A key level to watch is $2,175, and further gains could be limited by resistance near $2,150, which corresponds to a specific technical indicator based on recent price movements between $2,198 and $1,914.
The price is currently facing resistance around $2,200. If the price breaks above this level, it could climb towards $2,250. A further increase past $2,250 could lead to additional gains in the short term, potentially reaching resistance levels of $2,320 or even $2,350.
Another Drop In ETH?
If Ethereum doesn’t break through the $2,150 level, its price might start to fall. It could find some initial support around $2,090, with stronger support near $2,050.
If the price falls below $2,050, it could drop to $2,020, and potentially even lower to around $1,940. Strong support is expected near $1,920.
Technical Indicators
Hourly MACD – The MACD for ETH/USD is losing momentum in the bearish zone.
Hourly RSI – The RSI for ETH/USD is now above the 50 zone.
Major Support Level – $2,020
Major Resistance Level – $2,190
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2026-05-19 08:48