Ethereum Price Drops Below $2,200 as Bearish MACD Takes Control

Ethereum's price has been on a downward trend, dropping from its swing high near $2,329 and breaking below a bullish trend line at $2,210. The token traded as low as $2,176 before stabilizing.

The hourly MACD is gaining momentum in bearish territory, with the RSI sitting below the 50 mark, confirming sellers hold the advantage for now.

To turn the tide, bulls need to clear key resistance levels, starting with $2,235 and then $2,250. This would open up the path to target $2,290 and potentially $2,320.