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Ethereum (ETH) Price: 10% Decline Followed by Consolidation at $2,300 Support Level
- Ethereum price declined over 10% from its $2,550 resistance zone to around $2,300
- A bearish trend line has formed with resistance at $2,500 on the hourly chart
- ETH is trading below the 100-hourly Simple Moving Average
- The price could move upward if it settles above $2,500 and $2,550. Major resistance is forming near $2,650, with support at $2,420 and $2,350
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