Ethereum Price Struggles Below $2,000 Amid Bearish Momentum

Ethereum (ETH) continues to show weakness, struggling to maintain gains near the $2,000 level. Despite brief intraday upticks, the overall trend remains bearish. ETH has been trapped in a descending channel since early March, forming lower highs and lower lows. Currently trading around $1,821, Ethereum is well below its 50-day EMA and facing resistance at the 26-day EMA, which aligns with recent local peaks. This convergence reinforces the potential for further rejection and limited upward movement.

Technical indicators confirm the bearish outlook. The Relative Strength Index (RSI) hovers near 38, signaling bearish sentiment without reaching oversold conditions that typically precede a recovery. Red candles dominate the chart, reflecting weak buyer interest and low trading volume, further confirming the downtrend.

The broader crypto market also adds pressure. While Bitcoin and other altcoins attempt recovery, Ethereum lags behind, making it more vulnerable to broader market downturns. Macroeconomic concerns—such as global trade tariffs and uncertain crypto regulations—are compounding the negative sentiment around ETH.

Unless Ethereum breaks above dynamic resistance levels, particularly near $2,200, bullish momentum is unlikely to build. A drop below the key $1,700 support could trigger a deeper decline, potentially retesting the lower boundary of the descending channel around $1,600 or lower.

Investors are advised to remain cautious and watch for stronger buying signals or shifts in trading volume before considering long positions. Until then, Ethereum remains under pressure, with little sign of an imminent recovery. For now, ETH price action continues to favor the bears in a market that lacks strong catalysts.