ETH fell from the ~$2,400 swing high to a low of $2,264, now trading below $2,350 and the 100-hour SMA; immediate resistance at $2,310–$2,350 and upside targets on a break are $2,400 then $2,500–$2,550. Technicals are bearish: hourly MACD gaining downside momentum, RSI below 50; key supports are $2,285 (initial), $2,265 (major), then $2,220–$2,200 and $2,120 as downside targets. Market impact: short-term negative for ETH price and crypto/DeFi activity; traders and DEX/CEX flows should monitor the $2,265–$2,350 zone for signs of recovery or further liquidation (token performance risk).

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Ethereum price started a fresh decline and traded below $2,350. ETH is now consolidating above $2,265 and might struggle to recover.

Ethereum started a downside correction from the $2,400 zone.
The price is trading below $2,350 and the 100-hourly Simple Moving Average.
There is a bearish trend line forming with resistance at $2,310 on the hourly chart of ETH/USD (data feed via Kraken).
The pair could start a fresh increase if it stays above the $2,350 zone.

Ethereum Price Trims Gains

Ethereum price failed to remain stable above $2,380 and started a downside correction, like Bitcoin. ETH price dipped below the $2,365 and $2,350 levels.

The price even spiked below $2,300. A low was formed at $2,264, and the price is now consolidating losses. There was a minor upward move above the 23.6% Fib retracement level of the downward move from the $2,404 swing high to the $2,264 low.

Ethereum price is now trading below $2,300 and the 100-hourly Simple Moving Average. If the bulls remain in action above $2,265, the price could attempt another increase. Immediate resistance is seen near the $2,310 level. There is also a bearish trend line forming with resistance at $2,310 on the hourly chart of ETH/USD.

The first key resistance is near the $2,335 level and the 50% Fib retracement level of the downward move from the $2,404 swing high to the $2,264 low. The next major resistance is near the $2,350 level. A clear move above the $2,350 resistance might send the price toward the $2,400 resistance. An upside break above the $2,400 region might call for more gains in the coming days. In the stated case, Ether could rise toward the $2,500 resistance zone or even $2,550 in the near term.

More Losses In ETH?

If Ethereum fails to clear the $2,310 resistance, it could start a fresh decline. Initial support on the downside is near the $2,285 level. The first major support sits near the $2,265 zone.

A clear move below the $2,265 support might push the price toward the $2,220 support. Any more losses might send the price toward the $2,200 region. The main support could be $2,120.

Technical Indicators

Hourly MACD – The MACD for ETH/USD is gaining momentum in the bearish zone.

Hourly RSI – The RSI for ETH/USD is now below the 50 zone.

Major Support Level – $2,265

Major Resistance Level – $2,350

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