Ethereum Price Extends Pullback, $1,920 Support Now Under Threat

Ethereum price has declined below $2,000 and broken key support levels, with the next major support at $1,920 now under threat. The cryptocurrency dropped to a low of $1,912 after failing to maintain bullish momentum above $2,020, signaling potential further downside.

• →Ethereum broke below the critical $2,000 level and 100-hourly Simple Moving Average.
• →Key bullish trend line support at $2,020 was breached, indicating bearish momentum.
• →The price hit a low of $1,912 and is now consolidating below the 23.6% Fibonacci retracement level.
• →Major resistance levels are at $2,020 and $2,050, while support sits at $1,920 and $1,880.
• →Technical indicators show MACD gaining bearish momentum and RSI below 50.