Ethereum's price continues to decline, moving below the critical $2,450 level. Currently, it is consolidating and may struggle to recover above $2,425.
The price dipped further, trading below $2,400, and remains under the 100-hourly Simple Moving Average. A bearish trend line with resistance at $2,425 is visible, limiting recovery potential.
Key support levels are $2,350 and $2,320. If these supports hold, Ethereum may see a fresh increase. Resistance levels at $2,500 and $2,535 must be breached for upward momentum to resume.
The MACD indicates bearish momentum, while RSI levels point to a downward trend. A clear move below the $2,320 support could trigger further declines.
Ethereum could rise toward $2,650 if it overcomes resistance levels. However, failing to clear $2,420 may lead to further downward movement, with potential for the price to reach $2,150.
