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Ethereum fell below $2,050 and extended its decline below $2,020 and $2,000, following Bitcoin’s weaker tone. The price dropped under $1,980 and formed a low at $1,964. A minor rebound followed, but ETH still trades below $2,000 and its 100-hour simple moving average.
ETH now shows clear bearish pressure after slipping under several near-term levels. The move below $2,020 and $2,000 weakened the short-term setup. The price also stayed under a bearish trend line that sits near $2,010 on the hourly chart.
The latest bounce pushed the price above the 23.6% Fibonacci retracement level of the drop from $2,139 to $1,964. Even so, the recovery has not changed the broader short-term structure. If bulls defend the $1,965 area, ETH could try another move higher. Still, the market needs stronger buying before it can recover lost ground.
Immediate resistance now stands near $2,010. The first major barrier sits near $2,020. After that, $2,050 remains the next key level to watch. That $2,050 zone also matches the 50% Fibonacci retracement level of the move from $2,139 to $1,964. A clear move above it could open the path toward $2,085.
If buyers push beyond $2,085, ETH could climb toward $2,120. A stronger move may also send the price toward $2,150 in the near term.
Failure to break above $2,020 could trigger another drop. The first important support now sits near $1,965. Below that, $1,950 stands as the next major support zone. A clean break under $1,950 could send ETH toward $1,920. More losses may then expose the $1,850 region.
The main support lower down sits near $1,780. Traders now watch whether the market can hold above the nearest levels or extend the decline further. Standard Chartered said Ethereum network activity remains close to record levels even as Ether trades far below last year’s peak. The bank’s digital assets research team pointed to strong transaction counts and high total value locked in ETH terms.
The report said ETH has fallen about 57% from its August 2025 peak above $4,800 to under $2,000. Geoff Kendrick, Standard Chartered’s global head of digital assets research, kept his targets at $4,000 by the end of 2026 and $40,000 by 2030. It also tied Ethereum’s role to stablecoins and tokenized real-world assets. It said stablecoin market value could rise to about $2 trillion by 2028, while tokenized non-stablecoin assets could reach a similar size.
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Ethereum transaction activity reached more than 3.6 million on April 28 before easing to around 2.2 million on Thursday. Meanwhile, total value locked in decentralized finance fell from about $97 billion in August to $41.65 billion on May 27.
For now, resistance remains firm at $2,010 and $2,050. Even so, network activity stays strong, and Standard Chartered says Ethereum’s usage could still support a longer-term recovery. Investors need to watch key price levels to gauge the next directional move.
