Ethereum hit a low of $2,180 around the 6/8 Murray level and near the lower band of the downtrend channel that has been forming since early October.

Ethereum could consolidate above the 6/8 Murray level, as this area represents strong support, and we may see a recovery in the coming days.

Ethereum has reached oversold levels, so we believe that in the coming hours and through the weekend, it could recoup some of the losses incurred during Friday's European trading session.

If ETH consolidates above $2,187 in the coming hours and then pulls back toward this zone, it will be considered a buying opportunity with targets at $2,317, $2,343, and finally at the upper band of the downtrend channel around $2,385.

If bearish momentum prevails and Ethereum consolidates below the 6/8 Murray line, we could expect it to find strong support around the lower band of the downtrend channel at $2,100; this area could be viewed as a buying opportunity and might give us an advantage for opening long positions.

The Eagle indicator has reached oversold levels and is showing a positive signal, so we will monitor the $2,187 area for buying opportunities over the next few days.