Ethereum has dropped sharply from the 3,300 zone to near 2,300, showing a clear bearish structure with lower highs and lower lows. This move reflects strong selling pressure and risk-off sentiment across the market.
#Ethereum #ETH
In the short term, ETH may attempt a relief bounce, but any upside is likely to face resistance around 2,600–2,700. A failure to reclaim this zone would keep the broader trend weak.
The 2,250–2,300 region is a critical support area. Holding above it could lead to consolidation, while a breakdown may open the door toward 2,100 or lower levels.
#SupportResistance #PriceAction
Overall, Ethereum appears to be in a correction phase rather than a confirmed reversal. Stability and volume expansion are needed before a sustainable recovery can begin.