Ethereum is in an upward price channel. Together with the support of the channel passes the trend line MA 200, which marks a strong zone for us. Below the channel a strong support from May 2021 is forming.
On the chart we see a strong intraday downward momentum that could herald a correction. I think it could reach the support zone of the price channel, after which an upward move could continue.
The target for the etherium could be both the resistance of 2300 and the trend line, which originates from November 2021.
I assume, as the price forms a correction, it may test the support zone in the near term. I expect the support to be tested by either touch or false-break, after which the upward movement may continue.