NewsBTC 2026-06-03 01:58:38

Ethereum Price Gets Crushed To $1,840 Amid Relentless Selling Pressure

Ethereum price started a fresh decline and traded below $1,950. ETH is now consolidating below $1,920 and might continue to move down. Ethereum remained in a bearish zone after a fresh decline below $1,950. The price is trading below $1,950 and the 100-hourly Simple Moving Average. There was a break below a contracting triangle with support at $1,975 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to move down if it stays below the $2,000 zone. Ethereum Price Extends Decline Ethereum price failed to remain stable above $2,000 and started a fresh decline, like Bitcoin . ETH price dipped below the $1,980 and $1,950 levels. There was a break below a contracting triangle with support at $1,975 on the hourly chart of ETH/USD. The price even traded below $1,920. A low was formed at $1,836, and the price is now consolidating losses well below the 23.6% Fib retracement level of the downward move from the $2,003 swing high to the $1,836 low. Ethereum price is now trading below $1,950 and the 100-hourly Simple Moving Average. If the bulls remain in action above $1,840, the price could attempt another increase. Immediate resistance is seen near the $1,880 level. The first key resistance is near the $1,900 level. The next major resistance is near the $1,920 level and the 50% Fib retracement level of the downward move from the $2,003 swing high to the $1,836 low. A clear move above the $1,920 resistance might send the price toward the $1,950 resistance. An upside break above the $1,950 region might call for more gains in the coming days. In the stated case, Ether could rise toward the $2,000 resistance zone or even $2,020 in the near term. More Downside In ETH? If Ethereum fails to clear the $1,950 resistance, it could start a fresh decline. Initial support on the downside is near the $1,840 level. The first major support sits near the $1,820 zone. A clear move below the $1,820 support might push the price toward the $1,780 support. Any more losses might send the price toward the $1,740 region. The main support could be $1,720. Technical Indicators Hourly MACD – The MACD for ETH/USD is gaining momentum in the bearish zone. Hourly RSI – The RSI for ETH/USD is now below the 50 zone. Major Support Level – $1,840 Major Resistance Level – $1,950

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