Ethereum failed to hold above $2,300 and extended its decline, mirroring Bitcoin’s weakness. The token fell below $2,280 and $2,265, then dropped under $2,250. It bottomed at $2,233 and now trades below $2,280 and the 100-hour Simple Moving Average. A bearish trend line also sits near $2,285 on the hourly ETH/USD chart.
Bulls still need to defend $2,220 to keep recovery hopes alive. Immediate resistance stands near $2,265. The next key barrier stands at $2,285, which also matches the 61.8% Fibonacci retracement level.
A clear move above $2,285 could open the door to $2,320. From there, the price could target $2,350. If buyers push past that level, Ether could reach $2,400. The near-term upside stretch may even extend toward $2,420.
If Ethereum fails at $2,285, the pullback could resume quickly. Initial support sits near $2,250. The first major support zone lies at $2,220.
A break below $2,220 could send the price toward $2,180. Further losses may expose $2,120. The main support level stands near $2,080.
In a separate legal development, a New York federal judge postponed a decision on Aave’s request. The request seeks the release of $71 million in frozen Ethereum tied to the Kelp DAO exploit. The judge ordered both sides to file more legal arguments before a June hearing.
The case keeps the disputed Ethereum locked in place for now. Both sides must return with additional filings before the court moves forward. The delay adds more time before any ruling on the frozen funds.
The legal step comes as crypto markets also face price pressure. Ethereum has already slipped below major short-term levels. The court delay adds another headline to a difficult week for the asset.
Nakamoto reported a net loss of $238.8 million for the first quarter. That compares with a $1.0 million loss a year earlier. The company said non-cash and transaction-related items drove most of the decline.
Those items included a $102.5 million mark-to-market loss from Bitcoin’s price drop during the quarter. Nakamoto also recorded a $107.7 million non-cash reduction tied to a pre-acquisition call option. Transaction and integration costs added another $8.0 million.
The company ended March with more than 5,000 Bitcoin worth about $345 million. It said Bitcoin fell from $87,519 at the end of 2025 to $68,220 on March 31. Nakamoto also sold about 284 BTC for working capital and generated about 43 BTC in premium income from its derivatives strategy, then sold about 40 BTC.
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CEO David Bailey said the first quarter marked a transformational period as Nakamoto shifted into a Bitcoin operating company. He said management will focus on scaling operating businesses, expanding revenue lines, and using disciplined capital allocation. Nakamoto also said its healthcare operations are winding down and should finish mostly by the end of the second quarter.
Ethereum remained under pressure after falling below $2,300 while traders watched resistance near $2,285 and support around $2,220. At the same time, Nakamoto posted a $238.8 million quarterly loss, and a federal judge delayed Aave’s request involving $71 million in frozen Ethereum before a June hearing.