• Ethereum’s recent price rally has slowed down and failed to break the $2,000 level.
• On the daily chart, ETH is forming higher highs and higher lows since rebounding from the 200-day moving average in June but lacks bullish momentum.
• On the 4-hour chart, ETH has broken above the $1,930 resistance level a couple of times since July but fails each time and is now targeting the $1,850 short-term support level with the $1,750 level as next target in case it fails to hold.

Ethereum Price Analysis

Ethereum’s price rally has been slowing down in recent weeks and it has yet to break above the $2,000 level. This lack of bullish momentum is making many market participants worried.

Daily Chart

On the daily timeframe, Ethereum’s price has been forming higher highs and higher lows since rebounding from its 200-day moving average earlier in June. However there is still hope for a rebound from either of two close support levels available: The $1,800 static level or its 200-day moving average close to that same price mark.

4 Hour Chart

On the 4 hour chart, Ethereum’s price has broken above its resistance at $1,930 a couple of times since early July but failed each time and dropped back below this mark again quickly. Currently it appears that ETH might target its short term support at $1,850 with an additional support available at $1