Ethereum Price Rejected Again, Market Watches Key Support Closely

Ethereum price recovered above $2,000 but faces rejection at the $2,090 resistance level, with technical indicators showing bearish momentum. The cryptocurrency remains at risk of further decline if it fails to break above key resistance levels.

• →ETH recovered above $2,000 but struggled to clear the $2,090 resistance level and is now trading below $2,050.
• →An expanding triangle pattern is forming with key support at $2,020 on the hourly chart.
• →Major resistance sits at $2,090 (61.8% Fib level) with potential upside targets at $2,150 and $2,220 if cleared.
• →Downside risks include a potential decline to $1,990 support or lower if ETH fails to hold above $2,020.
• →Technical indicators show bearish momentum with MACD in bearish zone and RSI below 50.