$ETH #Ethereum Price Risks Further Crash To $2,350 With Lower Lows Formation

Ethereum is showing signs of continued weakness as it struggles to hold above key support levels. After failing to maintain momentum above $2,500, ETH has been forming lower highs and lower lows—a classic bearish signal in technical analysis.

Currently trading below the 100-hourly simple moving average, Ethereum faces increased selling pressure. The $2,420-$2,450 zone, which previously acted as support, has flipped into resistance. If bears maintain control, ETH could see a sharp drop toward the $2,350 level, where the next major support lies.

Key technical indicators:

RSI remains below 50, pointing to bearish momentum.

MACD is gaining pace in the red zone.

A break below $2,350 may open the door to further losses toward $2,250 or even $2,120.

Traders should watch for a potential bounce near $2,350 or a confirmation of breakdown if that level fails. Recovery above $2,500 would be needed to invalidate this bearish setup.

Stay cautious and manage your risk accordingly.