Ethereum Consolidates Below $2,000 After Momentum Slows

Ethereum has entered a short-term consolidation phase after failing to sustain momentum above $2,000. The rejection near this level slowed bullish momentum, but buyers continue to defend the crucial $1,850 support established during last week's breakout.

The recent rally reached the underside of the long-term descending trendline near $1,980, where sellers stepped in and rejected higher prices. However, an important technical development occurred during the pullback: price revisited the previous breakout area around $1,850 and buyers once again defended this zone, resulting in another successful retest.

The inability to break above $2,000 has resulted in a series of smaller-bodied candles, suggesting indecision between buyers and sellers. Momentum has slowed compared to last week, and Ethereum is currently consolidating just above support rather than continuing its impulsive advance.