Ethereum Forecast: Bears Aim for $2,000 Support Level

crypthub

about 4 hours ago

Current Support and Order Blocks

Ethereum is testing a buy order block around $2,000‑$2,070 after a pullback from May resistance. The nearest sell order block sits at $2,260‑$2,340, which acted as a barrier earlier in the month. A stronger rally would need to clear the broader resistance zone near $2,420‑$2,700. If the $2,000 block fails, the next green support lies between $1,770 and $1,890, followed by a deeper level at $1,550‑$1,650.

Short‑Term Downtrend

On the 1‑hour chart, ETH broke a rising trendline and fell from the $2,130 area toward $2,030, marking a roughly 5% decline. The drop pushed price below the short‑term support line and toward a lower target near $2,002. Sellers remain dominant as price sits under the blue moving average, adding another resistance layer. Recovery now hinges on retaking the $2,130‑$2,159 zone.

Recovery Outlook

Buyers must first defend the $2,000‑$2,070 block to halt further downside. A decisive move above $2,130 would signal momentum returning and weaken the bearish setup. Failure to hold these levels could expose Ethereum to deeper support zones and extend the current bearish trend.