Ethereum Price Drops Below $1,900 Amid Weak Momentum, Testing Key Support Levels

Ethereum Price Drops Below $1,900 Amid Weak Momentum

The price of Ethereum (ETH) fell nearly 2% to approximately $1,883 on July 31, 2026, as repeated rejections at the $2,000 mark weakened market momentum. This price movement brings the token closer to critical technical support levels.

Current Market Situation

As of July 31, Ethereum was trading at about $1,883, representing a 1.8% decline on the day. The digital asset reached an intraday high of $1,936 before dropping to a low of around $1,878, underscoring the presence of active sellers in the market.

The 4-hour Relative Strength Index (RSI) is now at 43.02, indicating weakening short-term momentum, as it is below the moving average. Support is identified near the $1,873–$1,875 range, while deeper liquidity exists around $1,850.

Why Ethereum Is Declining

Profit-taking around $1,950 and ongoing struggles at the $2,000 level appear to be key factors in the recent price decline. The $2,000 mark also aligns closely with the 50% Fibonacci retracement level, positioning it as a significant resistance zone. Consequently, short-term traders are less likely to accumulate positions at this level.

Liquidation data indicates a sharp drop after Ethereum traded near $1,920, with significant sell pressure as it moved through liquidity near $1,900.

Technical Analysis of Support Levels

At present, Ethereum is testing critical support between $1,873 and $1,875. A daily close below $1,873 could undermine the recovery structure formed since late June, leading to new downside targets around $1,850. A breach of this level could signal a drop toward the $1,800 support level, further exposing the 0.786 Fibonacci retracement at approximately $1,712.86.

Market Sentiment and Analyst Predictions

Crypto analyst Michaël van de Poppe views the ongoing movement as a short-term correction but maintains an optimistic long-term outlook, stating, “ETH is holding above $1,800; as long as that’s the case, there’s not much to worry. I still expect Ethereum to reach $2,500 in the coming months.”

Another analyst, Ted Pillows, noted the weakening momentum but highlighted that Ethereum still sits above the key $1,850 support zone, suggesting potential for a rally back toward $2,000 if this level holds.

Conclusion

The current price action leaves Ethereum at a decisive juncture. Maintaining support at the $1,873–$1,850 range could pave the way for a recovery toward $1,940 and $2,000. Conversely, a significant breakdown below this area may encourage further downturns, thereby increasing the risks of deeper corrections in the near future.