Ethereum Price Correction Below $2,360

Ethereum price has been experiencing significant fluctuations, initially showing a fresh increase above $2,380 but then facing a downside correction. The price failed to clear key resistance levels, particularly around $2,360 and $2,320, and dipped below its 100-hourly Simple Moving Average. Bears were active near $2,420, leading to a swing high at $2,423 before the correction. Technical indicators suggest bearish momentum, with potential for further declines if Ethereum fails to hold support levels like $2,300 and $2,265. Conversely, a clear move above $2,350 or $2,400 could signal a recovery.