Ethereum Faces Distribution Pressure After Rejection at $3,220 Level

Ethereum Price Analysis:

Ethereum's price faced a firm rejection at the $3,220 level, breaking structure and moving into a weaker posture.
The drop aligns with distribution behavior rather than a shakeout, as indicated by analyst PEPE is Friend.
The key technical zone for Ethereum remains between $3,170 and $3,200. Trading below this range suggests selling opportunities.
Ethereum spot ETF data shows positive daily flows, but lacks strong momentum, indicating insufficient institutional demand for a breakout.

Ethereum

Price Movement Considerations:

Ethereum has closed below $3,062, focusing attention on the downside zone at $2,623, which is critical for potential stabilization.
A break above $3,445 could trigger bullish formations and target the $3,894 area.
Strength confirmation requires ETH to close above $3,661, marking a higher high and improving the bullish outlook.
A break below $2,623 exposes ETH to further losses, with the next support zone at $2,274–$2,104.