Ethereum

Aave

Rally

Dogecoin

Drops

Ethereum <a href="https://yellow.com/asset/eth" rel="noopener noreferrer nofollow">(ETH)</a> fell below the $2,200 mark after failing to hold support at $2,350, with prices dropping to a low of $2,155 as a <a href="https://yellow.com/news/ethereum-is-just-9-from-crashing-below-critical-dollar2000-level" rel="noopener noreferrer nofollow">bearish trend line forms</a> near key resistance levels on the hourly chart.
<h2 id="what-happened-eth-drops-below-key-support">What Happened: ETH Drops Below Key Support</h2>
The second-largest cryptocurrency by market capitalization <a href="https://www.newsbtc.com/analysis/eth/ethereum-price-struggles-at-2365/" rel="noopener noreferrer nofollow">extended</a> its decline from the $3,040 swing high, breaking through support at $2,420 and $2,300 before finding a floor at $2,155.
Data shows a major bearish trend line forming with resistance at $2,350 on the ETH/USD hourly chart. The price currently trades below both that level and the 100-hourly <a href="https://yellow.com/learn/simple-moving-average-sma-complete-guide-to-this-essential-trading-tool" rel="noopener noreferrer nofollow">Simple Moving Average</a>.
A recovery attempt pushed prices above $2,250, reaching the 23.6% Fibonacci retracement level of the recent decline. Sellers remain active near $2,365.
Also Read: <a href="https://yellow.com/news/dogecoin-rally-hits-wall-at-dollar01065-level" rel="noopener noreferrer nofollow">Dogecoin Rally Hits Wall At $0.1065 Level</a>
<h2 id="why-it-matters-technical-indicators-signal-weakness">Why It Matters: Technical Indicators Signal Weakness</h2>
The hourly MACD is gaining momentum in the bearish zone while the RSI sits below the 50 level, suggesting continued downward pressure.
If buyers maintain control above $2,250, the price could attempt another move toward resistance at $2,365 and potentially $2,450. A break above $2,600 would target the $2,700 zone.
Failure to clear $2,365 opens the door to fresh losses, with support levels at $2,220, $2,150, and potentially $2,000.
Read Next: <a href="https://yellow.com/news/two-eth-whales-offload-dollar371m-to-repay-aave-loans" rel="noopener noreferrer nofollow">Two ETH Whales Offload $371M To Repay Aave Loans</a>

Ethereum Tests $2,155 Low As Bears Lead

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Other articles published on Feb 3, 2026

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