Ethereum price found support near $1,920 and recovered some of its losses. ETH is currently consolidating and faces key headwinds near $2,020.

• Ethereum is trying a up-to-date wave of recovery above $1,965.
• The price is trending below $2,000 and the 100-hour plain moving average.
• A bullish trendline is forming on the hourly chart of ETH/USD (data fed via Kraken) with support at USD 1,955.
• The pair could start a up-to-date decline if it stays below the $2020 zone.

Ethereum price maintains support

Ethereum price failed to stay above $2020 and started a up-to-date decline, just like Bitcoin. ETH price was trading below the USD 1,965 and USD 1,950 levels to enter the bear zone.

Ultimately, bulls emerged near $1,925. The bottom was formed at $1,928 and the price began a wave of recovery. There was a move above the resistance at $1,965. The price even tested the 50% Fib retracement level on a downward move from a high of $2,100 to a low of $1,928.

Ethereum price is currently trading below $2,000 and the 100-hour plain moving average. Additionally, a bullish trend line is forming on the hourly chart of ETH/USD with support at $1,955.

If the bulls keep the action above $1,955, the price may be tempted to move higher. Immediate resistance is seen near the $2,015 level. The first key resistance is located near the $2,035 level or the 61.8% Fib retracement level on the downward move from the $2,100 high to the $1,928 low.

The next major resistance is near the $2,060 level. A clear move above the $2,060 resistance could push the price towards the $2,100 resistance. An upward break above the $2,100 area could trigger further gains in the coming days. In the given case, Ether may rise towards the resistance zone at $2,150 or even $2,185 in the near future.

Another ETH drop?

If Ethereum fails to break through the resistance at $2,015, a up-to-date decline could begin. Initial downside support is near the $1,965 level. The first major support is located near the $1,955 zone or trend line.

A significant move below the $1,955 support could push the price towards the $1,920 support. Any further losses could push the price towards the $1,880 region. The main support could be $1,825.

Technical indicators

Hourly MACD – MACD for ETH/USD is gaining momentum in the bullish zone.

Hourly RSI – The RSI for ETH/USD is currently above the 50 zone.

Main support level – USD 1,920

Major resistance level – $2,015