According to CoinMeta, the price of Ethereum fell to around $1,883 on July 31, a decrease of nearly 2%. After failing to maintain a breakthrough above $2,000, the price trend moved closer to key technical support levels. On the 4-hour chart, Ethereum's price has fallen below the middle Bollinger Band at $1,906, approaching the lower band at $1,875. Current short-term momentum is weakening, with the 4-hour Relative Strength Index (RSI) dropping to 43.02, indicating that sellers have taken the upper hand. Ethereum's pullback follows multiple attempts to establish support above $1,930. The current price range of $1,873 to $1,875 is the first key level that bulls need to defend. If the daily close falls below $1,873, it will undermine the recovery structure since the end of June.