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ETH breaks below the 2300 level, with a 24-hour decline of 4.35%.
This level was tested multiple times as support in recent weeks; breaking below opens up more downside space.
If funds cannot quickly recover above 2300 and stabilize, short-term support may shift to 2200 or even lower.
In terms of volume and price, the decline is accompanied by increased volume, indicating selling pressure is still being released, with no clear signs of bottom-fishing capital entering the market.
From on-chain data, exchange inflow volume increased during the decline, suggesting some holders are taking losses or hedging, and there is no sign of large investors accumulating heavily for now.