Ethereum Price Stuck Under $2,050, Bulls Seek Recovery Catalyst Ethereum’s price has been oscillating around key resistance levels, with bulls attempting to push the asset higher but facing repeated corrections. After a brief rally that approached $2,080, the price reversed course and fell back below $2,000, breaching the 50% Fibonacci retracement level of the recent uptrend from the $1,835 swing low to the $2,089 peak. The cryptocurrency is now trading near $1,960, which coincides with the 100-hourly Simple Moving Average and a key support level on the hourly chart. Analysts note the formation of a rising channel, with $1,960 acting as a critical support anchor. If the bulls manage to hold above $1,920, the price could attempt another upward move, targeting the $2,020 resistance level first. A successful break above $2,020 would likely draw further buyers, with the next key resistance at $2,050. A clear move past $2,050 could send ETH toward $2,120, and an upside break above that level might open the door for further gains, potentially reaching the $2,200 or even $2,220 resistance zones in the short term. However, the path to these targets remains uncertain, as the market continues to test key levels. On the downside, a failure to clear the $2,050 resistance could trigger a fresh decline. Initial support is expected near $1,960, with the first major support level at $1,932—the 61.8% Fibonacci retracement of the recent rally. A breakdown below $1,932 could push the price toward $1,895, and further losses might take ETH to the $1,850 region. The primary support level, however, is seen at $1,820, which could act as a critical barrier for sellers. Technical indicators suggest a bearish bias in the short term.#ethereum #fibonacci_retracement #simple_moving_average #macd #rsi
