According to CoinMeta, Ethereum’s price fell by 2.6% on August 11, approaching $1,870. The failure to break through $1,950 led to the liquidation of long positions, and traders reduced their risk exposure before the release of the U.S. inflation report. In recent trading, Ethereum approached $1,870, with sellers rejecting any attempt to hold above $1,900. The price dropped from its peak of $1,935 on August 10 and briefly touched a intraday low of around $1,867. Although Ethereum rebounded to around $1,886, reducing some of its intraday losses, it remained below the short-term resistance zone since the end of July. Ethereum’s decline followed several days of consolidation between $1,850 and $1,950. The loss of $1,900 brought the market’s attention back to the lower boundary. A 4-hour chart shows that Ethereum is still recovering from its low of $1,520 at the end of June, but it has not been able to produce a decisive breakout above the July high of $1,970 recently. The inability of Ethereum to break through the $1,900–$1,950 resistance zone has increased the pressure, prompting short-term traders to take profits.