ETHUSDT
After rebounding from the 50% Fibonacci retracement level of $1,754 on May 12, Ether has consolidated for a couple of days before the bulls pushed the price to the 20-day EMA ($1,854). The bears will vigorously defend the support line and aim to convert it into resistance. If they succeed, it would indicate selling pressure at higher levels, and the ETH/USDT pair may retest the immediate support at $1,740.
A decisive break below this level could lead to a decline towards the 61.8% Fibonacci retracement level of $1,663. To prevent further decline, the bulls need to drive the price above the 50-day SMA ($1,883), paving the way for a potential rally towards the psychologically significant level of $2,000.
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