TA: ethereum restoration (ETH) faces hurdles over why bears remain in control

Ethereum launched an upward correction of $ 1,865 against the US dollar. The price of ETH rose above $ 2000, but faced strong resistance close to $ 2050.

Ethereum tested the $ 1865 zone before a wave of good recovery began.
The price is still trading well below the resistance of $ 2050 and the 100-hour simple moving average.
On the hourly ETH / USD chart, there was a break above the downward trend line with resistance near $1,945 (data feed through kraken).
The pair can be trimmed to lower levels, but the Bulls need $1,950 to avoid shorter-term disadvantages.

Ethereum Price struggles for $ 2K
After dropping below $ 2,000, ethereum extended its decline, similar to bitcoin. The ETH price even broke the $ 1,920 support level, settling well below the 100-hour simple moving average.

The low was established around $ 1865, and the price recently introduced a reverse correction. It was a break above resistance levels of $1,920 and $ 1,950. There was also a break above the downward trend line with ETH / USD resistance around $1,945 on the hourly chart.

Ether even broke the $ 2000 resistance zone. However, the price is $ 2050 and it struggles with the 100-hour simple moving average. The highest occurred around $2039 and now the price is lower.

Source: ETHUSD-on TradingView.com
It broke the Fibonacci correction level of 23.6% from a Tuesday level of $ 1865 to a high of $ 2040 to a high of $ 2040. On the other hand, the price is clearly in the $ 2050 zone and faces strong resistance near the 100-hour SMA. If ether settles above $ 2050, there could be a sharp increase. The next big resistance is near the $ 2080 level.

The new ETH fall?
If Ethereum fails to rise above $2040 and $2050, it may continue to move downward. The initial support at the bottom is near the $ 1,980 level.

The first big support is near the $ 1,950 level. The Fibonacci correction level of 2040% from the oscillation level of $ 50 to the high of $ 1865 is also close to Tuesday’s level of $ 1950. If ether

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