Ethereum Slides Below $2,200 Amid Bearish MACD Signs

Ethereum's price has plummeted below $2,200 after failing to hold support at $2,250.

The token dropped from a swing high near $2,329 and broke below a bullish trend line at $2,210 on the hourly chart, reaching as low as $2,176 before stabilizing.

Ethereum now sits below its 100-hourly simple moving average, with key resistance levels above it. The 23.6% Fibonacci retracement of the move from $2,329 to $2,175 remains overhead as immediate resistance.

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