$ETH has seen a significant decline of 10.28% in the past 24 hours.
Currently, price is testing the lower Bollinger Band at 2189.56, suggesting potential overselling.
The key support level stands at 2161.36, while resistance is at 2411.76.
With volatility contracting, both traders and investors should exercise caution.
A stop-loss can be placed just below the support level to mitigate risks.
Consider setting alerts near 2189.56 to identify reversal opportunities.
In the current sentiment, it may be prudent to wait for clearer signals before trading.
