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Ethereum Plunges Below $2,200 as MACD Points to Further Downside

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Ethereum's price dropped below $2,200 after failing to hold support at $2,250, with technical indicators pointing to further downside risk.

The token broke below a bullish trend line at $2,210 and traded as low as $2,176 before stabilizing.

Ethereum now sits below the 100-hourly simple moving average, but there are still resistance levels above it that bulls need to clear in order to target higher prices.

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