Ethereum (ETH) is trading near $2,012 on Tuesday after extending recent losses. The latest daily candle shows a 4.40% decline, with price ranging between a high of $2,144.98 and a low of $1,995.65. The move reflects continued pressure following a volatile week for the asset.
Last week, Ethereum dropped sharply to the $1,700 area before staging a recovery. The rebound pushed the price back toward $2,140, but buying interest faded near that level. ETH failed to hold above $2,100, and selling pressure returned, driving the price back toward the $2,000 zone, where it is currently consolidating.
On the ETH/USDT daily chart, Ethereum remains in a downward trend. Price continues to form lower highs and lower lows and is trading below all major moving averages. The 50-day MA is near $2,858, the 100-day MA near $2,983, and the 200-day MA around $3,590, keeping the broader structure bearish. These levels represent key resistance zones if price attempts another recovery.
Looking further, the momentum indicators also remain weak. The RSI histogram is currently near -30, indicating bearish momentum and suggesting the market is closer to oversold conditions. The MACD remains in negative territory, with no bullish crossover in place, pointing to continued downside risk despite the recent slowdown in selling.
On the downside, $1,950 is acting as immediate support, followed by the $1,800–$1,700 area from last week’s low. On the upside, resistance is seen near $2,140, followed by $2,200.
Analyst Views and Network Developments on Ethereum
Beyond price action, Fundstrat’s Tom Lee stated that Ethereum could recover “as fast as it fell,” though the comment has drawn mixed reactions as some analysts point to current technical weakness.
Separately, the Ethereum Foundation has backed SEAL, an initiative aimed at reducing losses from wallet drainers targeting users. In addition, Ethereum developers are planning a major upgrade using zero-knowledge proofs to improve block validation efficiency.
Overall, Ethereum’s price action shows consolidation near $2,000 after a failed recovery, with broader direction still dependent on whether support can hold and momentum improves.
