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The performance of Ethereum has been uncertain, with struggles occurring above the $2,100 mark. There appears to be a downward trend and it may potentially continue this decline towards the $1,930 major support in the near term. Ethereum is consolidating amidst these struggles, particularly in facing resistance around the $2,060 area. Additional reporting shows that Ethereum is currently trading below $2,080 and furthermore, the 100-hourly Simple Moving Average. A bearish trend line looks to be emerging with resistance around $2,065 on the hourly chart of ETH/USD.
Ethereum made an attempt at a fresh price increase above the standard $2,080 resistance zone. The digital coin did manage a spike above the $2,120 resistance, similar to its big brother, Bitcoin. However, the bears were active above the $2,120 mark. In more detail, a price high was formed close to $2,132 before a new decline commenced. There was a move below the $2,080 level, and a low was formed around $2,037. Ethereum is now consolidating these losses. A struggle persists below the 23.6% Fib retracement level of the recent decline, which ranged from the $2,132 swing high to the $2,037 low point.
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