Crypto
Ethereum Slumps Below $2,200 as Bearish MACD Takes Control
Ethereum (ETH) dropped below $2,200 after failing to hold support at $2,250. The token lost over $130 from its swing high near $2,329 and broke below a bullish trend line at $2,210 on the hourly chart.
It traded as low as $2,176 before stabilizing, but now sits below the 100-hourly simple moving average. 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, and the RSI sits below the 50 mark, confirming sellers hold the advantage for now.