Ethereum faces resistance as price fails to break $1,948 level

Ethereum (ETH) is facing significant resistance as it fails to clear the $1,936–$1,948 price zone. Repeated rejections at this level have stalled recent recovery efforts, with momentum indicators like the Relative Strength Index (RSI) hovering around the neutral 50 level, suggesting a loss of bullish momentum.

Market structure has shifted from a bullish recovery toward a weak bearish trend following the breach of rising support levels. Recent price declines have been more impulsive than previous pullbacks, indicating that sellers may be regaining control. If the current trend continues, the price could move toward the $1,800–$1,837 support area.

Conversely, a recovery above the broken trend support and the $1,948 resistance level could invalidate the bearish outlook and re-establish a healthy recovery trend. A breakout above $1,948 could trigger short liquidations in the $1,940–$1,960 range, potentially driving the price toward the $2,000 psychological milestone.