Ethereum Stalls Below $2,000 as Resistance and Fear Limit Demand

Ethereum's price has stalled below $2,000 as the cryptocurrency struggles to break through resistance. The token is currently trading at around $1,922, up 0.6% on the daily chart but unable to turn its July recovery into a clean breakout.

The sellers repeatedly appeared near the upper end of the $1,970-$1,980 area, preventing Ethereum from challenging the psychological threshold of $2,000. The immediate resistance is near $1,938, an area that previously acted as support in February and March.

Momentum has started to flatten, with the daily relative strength index standing at 58, keeping Ethereum above neutral territory but below overbought levels. However, this also suggests that the recovery from June's low near $1,530 has lost momentum.