Ethereum Price Support Intact, but Market Signals Waning Bullish Momentum

Ethereum began a new upward trend from $1,840, surpassing $1,900 and even reaching above $2,020. A peak of $2,054 was hit before a correction pulled the price back below $2,000. Currently, ETH is trading below $2,000 and its 100-hourly Simple Moving Average. A new bearish trend line is forming with resistance at $2,000. If price stays below $1,900, a decline could occur. However, if bulls maintain control above $1,900, another upward move is possible. Key resistance levels to watch are $2,000, $2,050, and $2,120. Clearing $2,120 could lead to further gains towards $2,250. Conversely, failure to overcome $2,000 resistance could initiate a fresh decline. Major support levels are found at $1,920 and $1,880, with further potential drops to $1,840 and $1,800. The MACD is losing bullish momentum, and the RSI is below 50.