Weak buying and strong sell-offs signal continuation rather than reversal in current price action.
Ethereum price continued its decline after failing to break above the $2,300 resistance zone. Market analysts reported that sellers kept control of the market structure.
Crypto Candy shared that Ethereum has already dropped more than 8% since the last update. The analyst added that price action followed the projected bearish path. Market data shows Ethereum trading near the $1,800 level as pressure remains strong.
Crypto Candy said Ethereum remains in a clear downtrend on the daily timeframe.
The chart shows lower highs and lower lows since price failed near the $3,400 to $3,600 supply zone. This pattern reflects sustained selling pressure across recent sessions.
The analyst noted that the late January sell-off broke several long-term support levels. These included $2,800, $2,600, and $2,300. Each break removed key areas where buyers previously defended price.
Current price action shows consolidation after a sharp decline. Such behavior often signals continuation rather than reversal. Therefore, Crypto Candy stated that the bearish bias remains valid while Ethereum trades below the resistance zone.
The $2,300 to $2,100 area continues to act as a major rejection zone. Crypto Candy highlighted this range as a critical barrier for any recovery attempt. This zone previously served as strong support during December and early January.
After the breakdown, Ethereum retested this area and faced strong selling. The move confirmed a support-to-resistance flip. Several candles near this range showed long upper wicks and weak closes.
These signals point to heavy selling pressure. Buyers failed to show follow-through strength. As a result, analysts maintain a bearish stance while the price stays under this band.
Ethereum currently trades just above the $1,800 to $1,750 support zone. Crypto Candy identified this area as immediate short-term support. A daily close below this level could accelerate downside movement.
The next projected demand zone sits between $1,700 and $1,500. This range served as a historical accumulation region. It also aligns with the downside target drawn on the chart shared by the analyst.
Crypto Candy added that panic selling could expose deeper support below $1,500. However, the analyst stressed that this scenario depends on expanding bearish momentum. For now, the $1,700 to $1,500 zone remains the primary focus.
Ted Pillows reported that Ethereum dropped toward the $1,800 level without a strong buyer reaction. He said the lack of demand suggests price may sweep recent monthly lows. After such a move, he expects a possible short-term bounce.
Latest data from CoinGecko shows Ethereum trading at $1,822.68. The token posted a 24-hour trading volume of over $25.6 billion. Price declined 5.19 percent in the past day and 7.35 percent over the past week.
Crypto Candy stated that momentum remains bearish based on candle behavior and weak rebounds. The analyst described the market as moving from distribution toward possible capitulation. Buyers continue to show hesitation on each bounce.
According to the analysis, invalidation of the bearish trend requires a daily close above $2,300. Price must then hold higher lows above that range. Until then, any upward move counts as a corrective rally inside a downtrend.
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