$ETH Price Slips Below $1,900 Amid Leveraged Long Liquidations

Ethereum's price dropped by 5% on July 28 after failing to break through the $1,975-$2,000 resistance zone.

The rejection triggered forced selling and pushed Ethereum into a key technical support zone near $1,870. This level has supported the recovery since mid-July and is currently being tested.

Leveraged long positions accelerated the decline as Ethereum moved through several long-liquidation clusters between $1,950 and $1,890.

The price reached approximately $1,873 before stabilizing around the lower end of the daily range. Despite the decline, Ethereum remains above its early July low near $1,560, having gained roughly 20% from that level.