Ethereum Price Forecast: ETH fights for breakout back above $2,000, but technicals remain weak

• Ethereum recovery hits a barrier at $1,700, forcing bulls to seek refuge at the 200 SMA.
• Ether bulls are not relenting in the fight for gains towards $2,000.
• The correction toward $1,400 will continue if it loses support at the 200 SMA.

Ethereum has made a considerable recovery from the drop in price earlier in the week. The losses followed a rejection from highs above $2,000. It became difficult to stop the bearish leg because the declines were widespread in the market, led by Bitcoin’s slump to $45,000.