Ethereum’s price has been falling and is now trading under $2,050. It’s currently stabilizing below $2,150, and a price recovery might be difficult.
- Ethereum started a downside extension below the $2,150 zone.
- The price is trading below $2,150 and the 100-hourly Simple Moving Average.
- There is a connecting trend line forming with support at $2,050 on the hourly chart of ETH/USD (data feed via Kraken).
- The pair could continue to move down if it stays below the $2,150 zone.
Ethereum Price Extends Losses
Like Bitcoin, Ethereum’s price couldn’t hold steady above $2,220 and started to fall. It quickly dropped below both the $2,200 and $2,150 marks – a bit of a correction after recent gains.
The price briefly dropped below $2,050 before reaching a low of $1,914 on Kraken. Now, the price is stabilizing after those losses. It did bounce back, moving above the 50% retracement level based on the recent drop from a high of $2,197 to a low of $1,914.
Ethereum’s price has fallen below $2,150 and is now trading under its 100-hour moving average. A trend line is also developing, suggesting a support level around $2,050.
If the price stays above $2,050, it might try to climb higher. It could first encounter resistance around $2,130, and a major obstacle near $2,150. This $2,150 level also corresponds to a key technical indicator, representing a 76.4% retracement of the recent price swing from $2,197 down to $1,914.
The price is currently facing resistance around $2,200. If it breaks above this level, it could climb to $2,250. A further increase past $2,250 could lead to additional gains in the coming days, potentially reaching $2,300 or even $2,320 soon.
Another Drop In ETH?
If Ethereum doesn’t break past $2,150, its price might start to fall. It could first find some support around $2,085, with a stronger support level near $2,050.
Okay, so I’m watching Bitcoin closely, and if it drops below $2,050, I’m expecting a further move down towards $2,000. If it keeps falling after that, I think we could test the $1,920 level. I’m setting a pretty firm buy order around $1,880, as that seems like a strong support level where it might bounce back.
Technical Indicators
Hourly MACD – The MACD for ETH/USD is gaining momentum in the bearish zone.
Hourly RSI – The RSI for ETH/USD is now below the 50 zone.
Major Support Level – $2,050
Major Resistance Level – $2,150
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2026-05-18 09:58