Ethereum Drops From $2,329 As Bearish MACD Gives Sellers The Upper Hand

Ethereum (ETH) slid below $2,200 after failing to hold support at $2,250, with technical indicators pointing to further downside risk unless bulls reclaim key resistance levels.

ETH Trend Line Break

The token dropped from a swing high near $2,329 and broke below a bullish trend line at $2,210 on the hourly chart. It traded as low as $2,176 before stabilizing.

ETH now sits below the 100-hourly simple moving average. The 23.6% Fibonacci retracement of the move from $2,329 to $2,175 remains overhead as immediate resistance.

On the upside, bulls need to clear $2,235 first, then $2,250 — the 50% Fib level — to target $2,290 and potentially $2,320. On the downside, a break below $2,140 opens the path toward $2,110, $2,060, and ultimately $2,020.

The hourly MACD is gaining momentum in bearish territory. RSI sits below the 50 mark, confirming sellers hold the advantage for now.

ETH April Price Swings

Ethereum has traded in a wide band throughout April.

The token opened the month near $2,133 on Apr. 1, fell to roughly $2,046 by Apr. 3, then recovered above $2,250 by Apr. 8. That rally proved short-lived — ETH dropped back to $2,182 the following day before bouncing again to $2,217 on Apr. 10.

Over the past 12 months, the token's 52-week range stretches from $1,388 to nearly $4,956, a spread that reflects the persistent volatility that has defined Ethereum since a sharp selloff in early 2026.

Alexey Bondarev is the Head of Content at Yellow.com, having reported on crypto for the last 10 years. He specializes in in-depth Research and Learn pieces, with a focus on analytical reporting, industry context, and the bigger forces shaping crypto, from the AI era and security technologies to fintech innovation. He believes that everything digital will imminently overcome everything analogue and is working hard to make that come true.