Ethereum Consolidates Below $2,000 as Buyers Defend Key Support

Ethereum has been consolidating after its rejection at the $2,000 resistance zone. Despite this, buyers have successfully defended the $1,850-$1,860 support area for a second consecutive week.

The market remains in a healthy consolidation phase, with the price repeatedly respecting the previous breakout zone. Bullish momentum has slowed since the late-July rally, but the broader daily trend continues to favor buyers as long as the current support remains intact.

A decline towards $1,750 is possible if Ethereum loses the $1,850 support on a daily closing basis. However, as long as ETH continues to hold above $1,850, the probability still favors another attempt toward $2,000.