Ethereum (ETH) has fallen below the critical $2,200 support level, reflecting broader market weakness following Bitcoin's recent decline. This drop raises concerns among traders and investors about a potential shift in short-term momentum for the second-largest cryptocurrency. Despite showing resilience during Bitcoin's earlier correction, Ethereum now appears to be following a similar downward path due to profit-taking and technical resistance.
The decline is attributed to cautious market sentiment after a strong rally in recent weeks, with Bitcoin also falling below $75,000. Technical indicators suggest Ethereum was overbought, prompting a pullback. No major negative news has directly triggered the drop, indicating a possible market cooldown after recent gains. Analysts suggest that the dip could present a buying opportunity, with support levels around $2,100–$2,150 being closely monitored for potential rebounds.
Ethereum Drops Below $2,200 as Market Volatility Persists
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