Ethereum retreated after failing to break through a major resistance area, with recent analysis showing ETH trading near $2,241. On the one-hour chart, the short-term decline remains intact. Sellers still have control, and price action below a descending trendline points to persistent downside pressure.
$2,290 to $2,334 remains the key ceiling
Analysts identify $2,290 to $2,334 as the main resistance zone in the current setup and a possible area for a fourth-wave move. Even if ETH pushes above that band, the move would not automatically confirm a trend reversal. The view presented in the analysis is more cautious: such a rise could still amount to a temporary correction inside a broader bearish structure.
On the downside, the market is watching the 38.2% Fibonacci retracement at $2,240. If that level fails, the next downside targets are $2,178, $2,119, and $2,037. As long as Ethereum stays below the descending trendline, the technical picture continues to favor the bears.
Past FOMC sessions were followed by steep ETH declines
Attention is also centered on Ethereum’s behavior after Federal Reserve meetings. Data cited in the report shows that ETH posted notable losses after four major FOMC sessions over the past two years: 35.01% after the October 29, 2025 meeting, 19.39% after December 10, 42.57% after January 28, 2026, and 17.50% after March 18. That pattern has raised questions about whether another sharp post-meeting drop could appear this month.
Following the latest meeting, Ethereum was fluctuating around $2,323, another area being closely monitored by traders. The report also warns against treating historical moves as a standalone signal. Rate expectations, inflation data, US dollar strength, ETF inflows, and broader market sentiment all remain relevant to ETH’s next move.
The $2,220 to $2,460 support band is now in focus
The current support zone between $2,220 and $2,460 has become a central level for market participants. Holding above that range could help limit additional selling. A break below it, though, could open the door to a decline resembling the post-FOMC corrections seen before. For now, short-term attention is fixed on whether resistance continues to cap price, whether $2,240 can hold, and whether the broader support band remains intact.