$ETH Notable technical points: • Price action: ETH price is currently at 2,119.87 USDT, a sharp drop from the nearest peak around 2,424 USDT. Consective red candles with long bodies show that the sellers completely control the market. • Moting averages (MA): The price has cut down and is completely below the important MA lines (MA5, MA10, MA20, MA30, MA60, MA120). The convergence and downtrend of short-term lines (MA5, MA10) reinforces the downward momentum. • Support/resistance area: * Latest resistance: Area 2,200 - 2,230 USDT (the old MA60/MA120 line has now become resistance). • Psychological support: The bottom level has just been created around 2,084.46 USDT. If this mark is broken, the price may retreat deep to the 2,000 USDT area. Trend forecast: The market is falling into a state of oversold but there is no obvious sign of reversal or withdrawal. The main trend in the coming sessions is still to continue to decline or sideway accumulation under selling pressure from market news (as the headline refers to Ethereum's selling pressure).