TA: Ethereum Fails Above $2K, Why ETH Could Resume Its Slide

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Ethereum attempted a decent recovery, but it failed above $2,000 against the US Dollar. ETH price is trimming gains and it might continue to move down towards $1,850.
Ethereum failed to clear the $2,050 and $2,060 resistance levels.The price is trading well below $2,000 and the 100 hourly simple moving average.There is a crucial bearish trend line forming with resistance near $2,060 on the hourly chart of ETH/USD (data feed via Kraken).The pair is likely to continue lower unless there is a strong close above $2,000 in the near term. Ethereum Price Trims Gains
Ethereum found a strong support near the $1,700 zone, like bitcoin. ETH started a decent recovery wave above the $1,800 and $1,900 levels.There was a break above the 50% Fib retracement level of the of the key drop from the $2,285 swing high to $1,700 swing low. However, ether price cleared failed to surpass the $2,050 and $2,060 resistance levels. It is now trading well below $2,000 and the 100 hourly simple moving average. The price also failed near the 61.8% Fib retracement level of the of the key drop from the $2,285 swing high to $1,700 swing low. Besides, there is a crucial bearish trend line forming with resistance near $2,060 on the hourly chart of ETH/USD.Source