Ethereum faces downside pressure after resistance rejection and repeated post-FOMC declines.

Ethereum is under short-term pressure after failing to break resistance near $2,290-$2,334, signaling sellers remain active. The price is currently near $2,241 and close to a key Fibonacci support level at $2,240; failure to hold this could lead to further declines toward lower Fibonacci levels. Historically, Ethereum has experienced sharp drops following recent Federal Open Market Committee (FOMC) meetings, with declines ranging from 17.5% to over 42%. After the April 29 FOMC meeting, traders are watching closely to see if Ethereum will break this pattern or face another post-meeting drop. The key support range to watch is $2,220 to $2,460; holding above this could prevent a deeper decline, but losing it may trigger further downside risk.