ETH has dropped below the $2,370 support and is now trading around $2,308. The daily chart shows increasing selling pressure after rejection from the $2,525–$2,547 resistance zone.
Here are the key levels I'm watching:
$2,310: The 0.382 Fibonacci retracement, which price has now slipped below.
$2,160–$2,105: Important support zone around the 0.5 Fib level at $2,156. A move toward this area is possible if selling continues.
$2,020: The 0.618 Fibonacci level, which could become relevant if the 0.5 Fib support fails.
$2,500–$2,525: The 0.236 Fib level and previous resistance zone. ETH needs to reclaim this area to improve its structure.
My view: ETH is losing momentum after failing to hold the upper part of its trading range. I'm watching the $2,160 area closely, but a breakdown there could open the door toward $2,020. Until buyers reclaim resistance, I'm staying cautious.
DYOR. NFA.