ETH holds $2,200, IG flags $2,156 as key support after 8.5% drop

Ethereum maintained its hold on the $2,200 support level on Friday, even after an 8.5% decline on November 5 wiped out gains following the US midterm elections. Ether traded near $2,236 as analysts shifted focus to the $2,170-$2,156 range, which is seen as the next significant support zone. The 200-day simple moving average currently stands at $2,156, reinforcing the technical importance of this area. Meanwhile, traders remained cautious ahead of the latest US payrolls report, which could influence broader market sentiment.