Ethereum

Arbitrum

<ul>
 <li>Ethereum slipped 3.83% in 24 hours, settling in the $1,980 range after facing resistance at $2,130.</li>
 <li>If ETH fails to clear the $2,000 resistance, it could trigger a fresh decline, finding initial support at $1,930.</li>
</ul>
Ethereum has faced a <a href="https://thenewscrypto.com/ethereum-price-enters-consolidation-phase-as-investors-await-cpi-data/" target="_blank" rel="noopener noreferrer nofollow">setback</a>, witnessing a 3.83% decline over the past 24 hours, bringing its value to $1,980. This contrasts with its positive performance over the week, where the coin showed an uptrend of 7%, climbing from $1,879 to its current position.
The decline in Ethereum’s value follows its struggle to surpass the $2,120 resistance level. The digital asset experienced a corrective downturn similar to Bitcoin, slipping below crucial support levels at $2,050 and $2,000. However, the bulls intervened, preventing further losses and establishing support around the $1,930 zone.
<h3 class="wp-block-heading" id="can-bulls-recover">Can Bulls Recover?</h3>
Currently ETH trading below $2,000 and the 100-hourly simple moving average. Also, a significant obstacle lies in a <a href="https://thenewscrypto.com/ethereum-fails-to-break-resistance-are-bears-taking-over/" target="_blank" rel="noopener noreferrer nofollow">bearish trend line</a> forming with resistance near $2,000 on the hourly chart of ETH/USD.
<div class="wp-block-image">
 <figure class="aligncenter size-large"><img decoding="async" width="1024" height="520" src="https://thenewscrypto.com/wp-content/uploads/2023/11/image-22-1024x520.png" alt="" class="wp-image-85699" srcset="https://thenewscrypto.com/wp-content/uploads/2023/11/image-22-1024x520.png 1024w, https://thenewscrypto.com/wp-content/uploads/2023/11/image-22-300x152.png 300w, https://thenewscrypto.com/wp-content/uploads/2023/11/image-22-768x390.png 768w, https://thenewscrypto.com/wp-content/uploads/2023/11/image-22-150x76.png 150w, https://thenewscrypto.com/wp-content/uploads/2023/11/image-22.png 1301w" sizes="(max-width: 1024px) 100vw, 1024px">
 <figcaption class="wp-element-caption">Ethereum (ETH) Price Chart (Source: TradingView)
 </figcaption>
 </figure>
</div>
To resume an upward trajectory, Ethereum must overcome the $2,000 resistance and the above trend line. Further, the next <a href="https://thenewscrypto.com/ethereum-eyes-further-gains-as-bullish-momentum-continues/" target="_blank" rel="noopener noreferrer nofollow">major resistance</a> sits between $2,150 and $2,300.
If ETH fails to rise above the crucial resistance $2,000 may trigger a fresh decline, with initial support at the $1,950 level and more critical support at $1,920. A breach below the $1,930 support could potentially lead to a sharp decline, bringing Ether towards the $1,850 support zone in the short term.
At the time of writing, Ethereum is valued at $1,982, reflecting a 4% decline in the last 24 hours. Despite this recent dip, Ethereum remains up by approximately 5.5% over the week and 28% over the month.
In a separate development, PeckShieldAlert reported today that approximately $3.4 million worth of cryptocurrencies on Ethereum, Polygon, and Arbitrum have been trapped in phishing activities.&nbsp;

Ethereum Falls Below $2,000 Amidst Market Correction

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