Ethereum Breaks Down Toward $2,100 as Selling Pressure Accelerates

Ethereum is trading near $2,130–$2,150, following a sharp sell-off that has pushed price decisively lower, losing 5% for the last 24 and more than 20% for the week.

The latest move marks a clear shift from consolidation into downside continuation, with momentum accelerating as sellers press through short-term support.

On the 1-hour ETH/USDT chart, the decline unfolds rapidly after repeated failures to sustain rebounds above the mid-$2,300s. The current zone is structurally important, as Ethereum is now testing levels that have not seen sustained interaction during the most recent range.

This breakdown is occurring alongside heightened volatility and broadly bearish sentiment, increasing the importance of confirmation around nearby support.

Short-Term Price Action: Aggressive Sell-Off Into Key Support

Ethereum is currently trading around $2,130, after a steep intraday drop accompanied by expanding red volume. The move reflects strong sell-side participation rather than a slow drift lower, indicating urgency behind the decline.

Immediate support is now located around $2,120–$2,140, where price is attempting to stabilize following the vertical move lower. A failure to hold this zone would expose the next visible downside area near $2,050–$2,080, based on prior intraday reactions and price compression visible on the chart.

On the upside, near-term resistance sits around $2,220–$2,260, with a more meaningful resistance band higher near $2,300–$2,320, where prior breakdowns accelerated. Any bounce that stalls below these levels would continue to favor reactive selling rather than a structural recovery.

Volume expansion on the sell-off reinforces that this move represents active distribution rather than low-liquidity volatility.

Broader Context: Oversold Momentum Within a Bearish Structure

Market data accompanying the chart highlights the extent of the damage to Ethereum’s broader structure. Price is trading far below the 50-day SMA near $3,001 and the 200-day SMA around $3,435, confirming that higher-timeframe trend alignment remains decisively bearish.

The 14-day RSI at 27.78 places Ethereum in oversold territory, signaling stretched momentum but not, on its own, a reversal. Volatility remains elevated at 8.40%, suggesting continued risk of sharp extensions or unstable bounces. Sentiment indicators remain bearish, with the Fear & Greed Index at 17 (Extreme Fear), reflecting a market environment dominated by risk aversion.

Together, these conditions point to a market under pressure, where oversold readings coexist with weak structural support.

Scenarios and Risk Levels

From a stabilization perspective, Ethereum would need to hold above $2,120 and reclaim $2,220–$2,260 with follow-through to suggest that selling pressure is easing. Acceptance back above $2,300 would be required to meaningfully improve short-term structure.

On the downside, a clean break below $2,120 would weaken the current base and increase the probability of continuation toward the $2,050–$2,080 region. Failure to find support there would leave Ethereum exposed to further downside extensions, especially if volume remains elevated.

At present, risk remains skewed lower unless buyers demonstrate sustained acceptance above reclaimed resistance.

Conclusion

Ethereum’s sharp move toward the low $2,100s reflects a loss of short-term structure amid aggressive selling and elevated volatility. While momentum is now oversold, broader trend alignment and volume behavior continue to favor caution.

For now, the focus remains on whether Ethereum can defend current support and reclaim nearby resistance. Until confirmation emerges, price action suggests the market is still reacting to downside pressure rather than transitioning into a stable recovery phase.

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