Ethereum's Price Reverses 5% on Third Rejection at $2,000

Ethereum's price has reversed 5% from $1,973 on its third rejection at $2,000. The cryptocurrency slid to $1,874.19 by 7:30 a.m. Eastern, down $95.27 from Monday's opening print.

The rejection at the long-term descending trendline is causing concern among traders. Support levels sit at $1,850 (23.6% Fib), then $1,800 structural, and finally the 100-day SMA at $1,758.

ETH has been trading as a leveraged expression of technology-sector risk appetite for months. When the AI complex reprices, ETH reprices harder.