Ethereum Hits Second Wall in Two Days, Slides to $1,880

Ethereum has hit a wall twice in as many days, unable to break through resistance near $1,950. The cryptocurrency climbed to $1,930 on July 31 before reversing to $1,880, down 1.8% due to the 100-day SMA holding strong at $1,940.

The recent rejections in the $1,915-$1,950 zone show that buyers have not yet absorbed the supply in this area. Another brief move above $1,920 would carry limited weight unless Ethereum can clear the 100-day SMA and remain above it.

Momentum has not broken down despite the reversal, with the RSI standing at 58, above its signal line at 52. Ethereum now sits between support near $1,870 and resistance from $1,915 to $1,950.