The Ethereum price has experienced a sharp decline and is currently down over 25%, with bearish momentum below $2,770. The price broke below key levels such as $2,800 and $2,650, entering a bearish zone. It tested a low of $2,127 before consolidating losses. There was a minor increase above $2,300, but the price is now trading below $2,800 and the 100-hourly Simple Moving Average. Resistance levels are seen at $2,650, $2,770, and $2,900. A break above $3,000 could lead to further gains, while a failure to clear $2,600 might result in another decline. The major support levels are $2,200, $2,250, and $2,120, with further losses potentially extending to $2,000 and $1,880. The technical indicators show bearish momentum with the MACD in the bearish zone and the RSI below 50.



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