$ETH is currently experiencing heightened selling pressure, sliding below key technical support levels. Over the past week, $ETH corrected by more than 10%, breaking below the critical $2,200 threshold and erasing the gains it accumulated earlier in the month.

ETH

2,137.91

+1.23%

The price action over the last few weeks highlights a tightening pattern resembling a "coiled spring," marked by a sequence of lower local highs. The failure to maintain the $2,240–$2,280 support range has shifted near-term control back to the bears.

Traders are closely watching moving averages to see where buyers will attempt to establish a floor. A failure to hold current levels could expose deeper structural losses.

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