Ethereum Slides Below $1,900 After Failed Rally

Ethereum took a hit on July 28 as the price dropped from $1,973 down to $1,873. The decline follows a failed attempt to break past the $2,000 mark. When the price could not hold that level, it triggered a series of long liquidations that pushed the asset lower.

This forced selling wiped out many bullish positions in a short window. Traders are now watching the current price level closely, as it sits within a zone that historically provides technical support for the coin.

Market participants are waiting to see if buyers will step in at these lower prices or if the downward pressure will continue. Maintaining support near $1,870 is critical for Ethereum to avoid a deeper correction in the coming days.