💥 Ethereum Tanks 10%! Is $2,000 the Next Stop or Can Bulls Fight Back?

Ethereum is back in the red — dropping over 10% and struggling to hold key levels. The price plunged below $2,500, then slipped under $2,350 and $2,200, finally testing the $2,120 zone. While there’s been a slight recovery to just above $2,200, bearish momentum is still strong.

📊 On the hourly chart, ETH/USD is facing a tough resistance at $2,280, with a clear downtrend line forming. The next major hurdle is around $2,340, which also lines up with the 50% Fib retracement from the recent $2,568 high to the $2,114 low.

If Ethereum manages to flip $2,340 into support, we could see a rally toward $2,400 or even $2,500+ — potentially opening the door for a short-term jump to $2,550 or $2,620.

But if the bulls fail to take control, the bears may push ETH lower. Key support sits at $2,150. A strong breakdown below that could send the price back to $2,120 or even $2,000 — a level many traders are watching closely.

🧠 Technical Snapshot:

MACD: Bearish

RSI: Below 50

Key Support: $2,150 → $2,120 → $2,000

Key Resistance: $2,280 → $2,340 → $2,400

This is a crucial moment for Ethereum — can it bounce back or will the bears tighten their grip?

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