Ethereum dropped below $2,265 and is now consolidating just above $2,220. The hourly chart shows a bearish trend line forming at $2,285, keeping sellers in control. A low of $2,233 was tagged after the price slipped under $2,250.
The hourly setup
ETH is trading below $2,280 and the 100-hourly Simple Moving Average — a sign the near-term trend is weak. On the Kraken hourly chart, a bearish trend line with resistance at $2,285 is shaping up. The MACD on that timeframe is gaining momentum in bearish territory, and the RSI sits below 50. That combination doesn't favor buyers right now.
Key levels to watch
Immediate resistance is near $2,265. The more important one sits at $2,285, which also marks the 61.8% Fib retracement of the drop from $2,322 to $2,233. A clear move above $2,320 could target $2,350, then $2,400-$2,420. On the downside, initial support is at $2,250. Below that, major support at $2,220. If that gives way, the next stops are $2,180, $2,120, and $2,080.
What comes next
The low at $2,233 came after a dip below $2,250 — a level that had held earlier in the session. Price is now trying to stabilize above $2,220, but the bearish momentum in the hourly indicators suggests another test of that support is likely. The first concrete hurdle for bulls is getting back above $2,285. Until then, the path of least resistance remains lower.
