ETH: Trader Eyes $2,200 Dip Before $3,000 Target

ETH faces immediate downside pressure according to trader @CryptoMichNL, who flags a potential sweep of $2,355 that could extend toward $2,300 before any meaningful long buildup.

The analyst views $2,200 as the optimal accumulation zone, positioning the dip as preparation for a move to $3,000 rather than a sign of deeper crypto market crash risks.

On the 4h chart, price at $2,387.77 sits inside the Bollinger Bands with upper resistance at $2,511.77 and lower support at $2,379.43 while the EMA50 at $2,427.26 acts as overhead resistance and the EMA200 at $2,200.74 offers distant structural support; the MACD death cross at -15.6 reinforces bearish momentum even as RSI at 36.76 remains neutral, suggesting any test of the lower band could coincide with a healthy retracement toward the 50-EMA before continuation higher.