Ethereum extended its decline below the $2,170–$2,220 support zone, trading near $2,130 after another 5% drop. The rebound toward $2,440 was sharply rejected, confirming active selling and a deteriorating technical structure. A sustained move below $2,060 would increase the risk of a decline toward the psychological $2,000 level and the $1,900–$1,980 demand zone. Conversely, a sustained recovery above $2,220 would weaken the bearish scenario and open the way toward $2,280–$2,360. Funding rates remain positive, showing that long positions have persisted despite weakness in price and increasing their vulnerability to further downside.
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