Ethereum Price $2,000 Floor Gives Way As Selling Pressure Persists

Ethereum price started a fresh decline and traded below $1,980. ETH is now consolidating below $2,000 and might continue to move down.

Ethereum remained in a bearish zone after a fresh decline below $2,000. The price is trading below $2,000 and the 100-hourly Simple Moving Average. There is a bearish trend line forming with resistance at $2,010 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to move down if it stays below the $2,020 zone. Ethereum Price Extends Decline

Ethereum price failed to remain stable above $2,020 and started a fresh decline, like Bitcoin. ETH price dipped below the $2,010 and $2,000 levels.

The price even traded below $1,980. A low was formed at $1,955, and the price recently attempted a minor recovery wave. There was a move above the 50% Fib retracement level of the downward move from the $2,035 swing