ETH drop comot below $2.2K after e reject for $2.9K, e dey eye $1.5K support
Ethereum price drop down comot di key moving averages afta four times wey e try hold dat $2,800–$2,900 range but no success, e sharp sharp drop go test $2,200 support. For di daily chart, ETH break down from one ascending channel enter one $1,900–$2,200 fair value gap, small time bounce for 200-day MA near $2,600 but e no get momentum. Di 100-day MA wey dey around $2,200 dey give small support now, but di 200-day MA rejection show say sellers full ground.
RSI dey around 35, e never reach oversold yet. If Ethereum price fall below dis level, next strong support na $1,500. For 4-hour chart, ETH don dey form lower highs and lows since e lose channel support, with correction bounces around $2,100. If e drop below $2,000, e fit target $1,800. Long liquidations spike between $2,600–$2,800 make di downturn worse. Traders suppose watch if volume-backed reclaim of $2,300 happen to signal say recovery fit happen.
Bearish
Di breakdown wey happen under key moving averages plus di repeated rejection for $2,900 show sey eth selling pressure never dey stop, e even increase because of rise for long liquidations. For short term, RSI near 35 plus di pattern of lower highs and lows for di 4-hour chart show sey bearish momentum dey continue, and risk dey for test $1,800 if di $2,000 support no hold. For long term, recovery depend on if dem fit reclaim major moving averages wit strong volume. All these signs together show sey ETH fit face bearish impact.