Ethereum failed to maintain its position above $2,120 and extended losses, currently struggling to stay above $2,040 with potential for further downside movement. Technical analysis shows ETH broke below a bullish trend line with support at $2,075 on the hourly chart, trading as low as $2,016 before attempting a minor correction. The price is now below the 100-hourly Simple Moving Average and faces resistance at $2,075. If bulls fail to maintain action above $2,020, the cryptocurrency could test the critical $2,000 support zone. A clear breakdown below $2,000 could trigger additional selling pressure, potentially pushing ETH toward $1,980 or lower support levels.