Limited dips expected as Ethereum struggles to gain momentum above $1,900.

The price of Ethereum is having difficulty staying above the $1,920 resistance level against the US Dollar, and there is a possibility of a drop towards the $1,790 support level. Ethereum is facing a major obstacle near the $1,920 resistance. The current price is close to $1,870 and the 100-hourly Simple Moving Average. On the hourly chart of ETH/USD, there was a break below a short-term contracting triangle with support near $1,890, which could lead to a further decline in the pair if it remains below $1,920 and $1,930 for an extended period of time.

Ethereum’s price has remained below the key $1,920 resistance zone and failed to stay above the $1,900 zone, resulting in an extended decline, similar to Bitcoin. On the hourly chart of ETH/USD, there was a break below a short-term contracting triangle with support near $1,890, and the pair dipped below the $1,865 support and the 100-hourly Simple Moving Average. However, losses were limited below $1,850. A low is formed near $1,838, and the price is now moving higher. It broke the 23.6% Fib retracement level of the recent decline from the $1,930 high to the $1,838 low. Ether is now trading near $1,870 and the 100-hourly Simple Moving Average, with immediate resistance near the $1,885 level or the 50% Fib retracement level of the recent decline from the $1,930 high to the $1,838 low. The next major resistance is near the $1,900 level.

The key breakout zone is still near the $1,920 and $1,930 levels. If the bulls manage to pump Ethereum above the $1,930 zone, the price might gain bullish momentum, with the next resistance sitting near $2,000. Any more gains could send Ether toward the $2,120 resistance.

However, if Ethereum fails to clear the $1,900 resistance, it could continue to move down, and the initial support on the downside is near the $1,850 level. The next major support is near the $1,840 level, and if there is a move below $1,840 and the recent low, the price could test $1,790, with any more losses possibly sending the price toward the $1,750 support.

The Hourly MACD for ETH/USD is losing momentum in the bearish zone, and the Hourly RSI for ETH/USD is now above the 50 level. The major support level is $1,840, and the major resistance level is $1,900.

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