Ethereum (ETHUSD) declined in recent intraday trading, preparing to break below the key support level at $2,250, which previously acted as our price target. This comes amid the dominance of a short-term bearish corrective wave, with continued downside pressure as the price remains below EMA50, beside the emergence of bearish signals from the relative strength indicators.

Accordingly, our expectations point to a decline in Ethereum during the upcoming intraday trading, especially if it breaks below the mentioned $2,250 support level, targeting the next support at $2,175.