Ethereum price started a fresh decline and traded below $2,300. ETH is now consolidating above $2,250 and might struggle to recover.

• Ethereum started a downside correction below the $2,320 zone.
• The price is trading below $2,320 and the 100-hourly Simple Moving Average.
• There is a bearish trend line forming with resistance at $2,300 on the hourly chart of ETH/USD (data feed via Kraken).
• The pair could start a fresh increase if it stays above the $2,250