Ethereum's recent fall was a general breakdown in the cryptocurrency market. The bears broke below the price range of $236 and $244. The coin fell to $228 low as the price corrected above $232 high.
Presently, the market is consolidating above $232 support but the price action is indicating a bullish signal. When price breaks below the EMAs, a downward move is expected. A downward move to $224 support will ignite the price action of July 5.
Source:
https://coinidol.com/ethereum-holding-structures/