Ethereum slide below $2,200 puts $2K at risk

Ethereum fell about 20% after failing to hold above $2,500, with price now struggling to defend the $2,200 support level.

The decline accelerated as ETH dropped below $2,400 and the 100-hour moving average, signalling growing bearish momentum similar to Bitcoin’s recent move.

Market data from Kraken shows a bearish trend line forming near $2,415, with sellers capping recovery attempts after a low around $2,220.

If Ethereum holds above $2,200, bulls could attempt a rebound toward resistance at $2,350 and $2,420, followed by a possible retest of $2,500.

A break above $2,500 could open the way toward $2,620 and higher retracement levels, though momentum currently remains weak.

Failure to reclaim $2,420 would leave ETH vulnerable to further losses toward $2,120 and $2,050 in the near term.

A decisive move below $2,200 would put the $2,000 psychological support level firmly on the radar as bearish indicators continue to dominate.

At the time of reporting, Ethereum price was $2,187.69.