Ethereum dropped 2.04% over 24 hours to trade near $1,847 on Aug. 3, after failing again to reclaim its 50-day and 100-day moving averages. The token is now testing the $1,800–$1,850 support zone, and a break below $1,800 could expose $1,785 and $1,700.
Ethereum (ETH) traded at $1,847, down 2.04% over the previous 24 hours, after another rejection near its key moving averages left the $1,800 support zone exposed. The token moved between an intraday high of $1,886 and a low of $1,829 on Binance. The decline extends ether's retreat from its July 27 high near $1,975, where buyers have repeatedly failed to clear the $1,950–$1,975 resistance zone.
ETH stalls below its moving-average resistance
ETH briefly rebounded after touching $1,828, but the bounce stalled around $1,850, leaving the token near the lower end of its recent trading range. The broader daily structure stays defensive: Ethereum trades below its 50-day and 100-day simple moving averages at $1,889 and $1,927, as well as its 200-day SMA at $2,089.
Sellers entered after the latest attempt to clear the $1,889–$1,927 resistance band faded, pushing ETH below $1,850 and toward its Aug. 3 low. On the 4-hour chart, the token is rolling over after forming a broad curved top under $1,975, with lower highs since late July suggesting buying demand has weakened. Still, a confirmed break below $1,800 is needed to validate a larger bearish move.
Momentum readings point to more selling
The 4-hour MACD line sits near -10.46, below its signal line at about -9.92. Chaikin Money Flow reads -0.14, a negative reading that shows selling volume has outweighed buying volume.
A break of $1,800 puts $1,700 in view
The first support range runs from $1,828 to $1,800, where buyers have already stepped in near the upper end, though repeated tests could weaken that demand. Ethereum's lower daily moving-average ribbon sits near $1,785. A daily close below that level would strengthen the bearish case and expose $1,700, followed by the June accumulation zone around $1,550–$1,600.
CoinGlass's 24-hour liquidation heatmap shows leveraged-position clusters near $1,840, $1,820 and $1,810 that could accelerate volatility if broken. The daily RSI stands at 48.81, below its signal average of 56.44 — weakening but still short of oversold territory.
Analyst flags $1,800 as the line to hold
Crypto analyst Ted Pillows called the $1,800–$1,850 range decisive for Ethereum's next move. Pillows said ETH is in that support level now: "This is very crucial for Ethereum to hold, or else it could drop towards $1,700." His chart shows ETH recovering toward $1,950 and then $2,050 if the zone holds, against a drop toward $1,700 if it breaks.
Changing expectations for US monetary policy add another risk: higher Treasury yields and a stronger dollar can reduce demand for crypto by boosting the appeal of dollar-denominated assets. Slower-than-expected Fed rate cuts would keep financial conditions tighter, leaving Ethereum's near-term path tied to whether $1,800 holds as upcoming US inflation and employment data shape Fed policy expectations.
Source: crypto.news
Trading involves risk.
Risk Disclaimer
