Ethereum holds $1,950 support as Bitcoin nears $66K

What to Know:

• ETH compresses near critical support after months of steady selling.
• Short-term downtrend intact; rebound requires negating sequence of lower highs.

Current data suggest ETH is compressing near a critical support band after months of steady selling. As reported by CryptoRank, the 4-hour chart continues to register lower highs and lower lows, indicating an intact short-term downtrend.

That structure implies any rebound attempt must first negate the sequence of lower highs. Until then, conditions appear fragile and activity clustered near recent lows.

Why Tom Lee’s call matters and immediate market context

The significance of Tom Lee’s call lies in timing a potential inflection during stress rather than in setting a target. His remarks follow consecutive drawdowns that have tested sentiment across major tokens.

Setting the frame for debate, CoinDesk reported that Fundstrat’s Tom Lee described crypto as a “mini winter” while speaking at Hong Kong Consensus 2026.

Immediate context remains cautious. According to MSN, Bitcoin slipped below the $66,000 mark during early U.S. trading, a move that often weighs on Ethereum via correlation. Separately, TheStreet reported that JPMorgan analysts have warned post-upgrade activity spikes may be short-lived amid intensifying layer-2 competition.

Today’s ETH levels: price, support, resistance, momentum signals

At the time of this writing, Ethereum traded below $2,000, with an intraday test near $1,969 as reported by Meyka. That places spot near a watched support area defined by recent lows.

On momentum, the 4-hour trend remains down, while earlier readings were described as neutral on the daily RSI in the same Meyka analysis. To suggest a durable turn, price would need to break above the latest lower-high pivot and hold closes above it.

Initial resistance likely aligns with those prior lower-highs, while interim support sits around the recent breakdown zone. With volatility elevated, ranges can expand quickly following failed retests.