Ethereum’s bullish bias may be at risk if it remains below $1,920.

The Ethereum price has started declining again from the resistance level of $1,920 against the US Dollar. If it remains below $1,920 for a long time, there is a risk of further losses. Ethereum is currently displaying bearish signs and is well below the $1,920 resistance zone. The price is trading below $1,880 and the 100-hourly Simple Moving Average. On the hourly chart of ETH/USD, there is a major bearish trend line forming with resistance near $1,870. If the pair breaks the $1,840 support, it could gain bearish momentum.

Ethereum’s price started to decline again after failing to clear the $1,920 resistance zone. It declined below the $1,880 level to enter a short-term bearish zone, similar to Bitcoin. The price even tested the $1,840 support and formed a low near $1,838. It is now consolidating losses and testing the 50% Fib retracement level of the recent decline from the $1,882 swing high to the $1,838 low. Ethereum is currently trading below $1,880 and the 100-hourly Simple Moving Average. Immediate resistance is near the $1,865 zone, with the next major resistance near the $1,880 level. If Ether moves above these levels, it might rise towards $1,900. The next resistance sits near $1,920, above which Ethereum could rise towards $2,000, and any more gains above the $2,000 resistance zone might send the price towards the $2,120 resistance.

If Ethereum fails to clear the $1,880 resistance, it could continue to move down. The initial support on the downside is near the $1,840 level, with the next major support near the $1,820 zone. If the price closes below the $1,820 support, it could decline towards the $1,800 support, and any further losses may send the price towards the $1,740 level or even $1,720 in the coming sessions. The hourly MACD for ETH/USD is gaining momentum in the bearish zone, and the hourly RSI for ETH/USD is below the 50 level. The major support level is $1,840, and the major resistance level is $1,880.