Ethereum (ETH) falls below $2,350: sellers maintain pressure

Ethereum (ETH) has suffered another bearish correction, breaking below the $2,350 threshold after failing to hold above $2,365 . This decline is part of a broader rejection of key technical levels, marked by selling pressure that has intensified over several days. Traders are now focusing on the $2,300 support, considered a critical level to avoid further deterioration. The facts From a technical standpoint, ETH lost two major reference points: the $2,350 threshold and the 100-hour moving average. This break confirms a short-term bearish trend, reinforced by the breach of the 50% Fibonacci retracement level (calculated between $2,265 and $2,382 ). The high trading volume during this drop indicates active participation from sellers, which strengthens the credibility of the negative momentum. Immediate resistances to a recovery are located at $2,340 , $2,365 and $2,380 . If prices break below $2,300 , the next bearish target would be $2,265 , or even $2,200 if selling pressure persists. Why it matters This technical correction of Ethereum could curb optimism around altcoins, particularly those linked to decentralized finance (DeFi) or smart contracts, where Ethereum holds a dominant position. A stabilization below $2,300 could amplify selling pressure, while a rebound above $2,350 would be necessary to reverse the current trend. Institutional investors, sensitive to technical levels, could adjust their positions accordingly. Additionally, indicators such as the Ethereum leverage ratio (currently at 0.57 ) or flows into Ethereum ETFs could provide further signals on market developments. What to watch Key level at $2,300 : a break below could trigger a bearish acceleration toward $2,265 or $2,200 . Technical indicators : the leverage ratio and flows into Ethereum ETFs could influence price momentum. Resistance levels to watch : $2,340 , $2,365 and $2,380 are the first obstacles to a recovery. Impact on altcoins : a prolonged decline in Ethereum could weigh on investor enthusiasm for DeFi and smart contract projects. The situation remains fragile, and a daily close above $2,350 could ease fears of a more pronounced downward move.