Ethereum
Ethereum price analysis: ETH bulls defend $2,200 as bears furiously target $2k

- Ethereum price analysis shows the bearish hold is getting strong near $2,200
- ETH/USD crashes 55 percent in the past 11 days to touch $1,730 low
- Bulls are struggling to maintain $2,200 level as selling pressure intensifies
- ETH/BTC is moving near 0.06 BTC in a show of consolidation

Ethereum, just like other cryptocurrencies, is showing signs of consolidation on the hourly charts. The ETH/USD pair is trading near $2,200 as the sellers are looking for higher levels to restart the bear run. The past week’s 40 percent fall is evident in the hourly charts as Ethereum hovers near the lower Bollinger Band.
The bulls will have to vigorously defend the $2k support area if they intend to build a bounce-back pattern. Yesterday saw the pair touch $1,730 low, but the pair quickly recovered and went back inside the safe confines of the Bollinger Bands. The bearish pressure is set to continue as we move forward in the new week as per Ethereum price analysis.