Ethereum slid to $1,887.46 on July 31, marking a 1.5% drop as it failed to break above the $1,930 resistance. For the third time, ETH encountered rejection at a descending trendline combined with the 100-day EMA, signaling persistent selling pressure that caps recovery attempts.
The chart reveals that buyers are struggling to surpass this technical barrier amid the largest structural reversal seen in stablecoin liquidity on Binance, a factor that may weigh on ETH’s short-term momentum. Similar resistance levels have held back other major assets recently, reflecting broader market caution.
