Regarding ETH right now, it’s clear that after entering the upper supply around 2.40k-2.42k, the price was sharply pushed down. Currently, the asset is trading around 2.29k and trying to slow the decline, but the structure after the last impulse looks weaker.



The nearest support is in the range of 2.25k-2.22k. As long as the price stays above this area, you can talk about an attempt to hold and a local rebound. However, the nearest resistance above is already around 2.32k-2.36k, and without consolidation above this zone, any upside move will look like nothing more than a weak pullback after a sell-off.

If ETH loses 2.25k, the next logical downside target is 2.22k and below. If it holds the current area and returns above 2.32k, you can expect a retest of 2.36k-2.40k. Right now, the overall picture is more neutral-bearish; buying in the middle without confirmation is too early.
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