Ethereum (ETH) has been the target of massive selling pressures faced by Bitcoin and other large Altcoins over the past few days, with a broad market downturn that has caused many analysts to turn around in the market.

ETH will experience some further downside, which could be further perpetuated by miners currently in the process of dismantling their ownership, potentially putting significant pressure on cryptocurrency.
 
In the near term, it is likely that the aggregate crypto market will experience further losses as Bitcoin continues to trade sideways below the key Support at $8,700.

While keeping in mind that Ethereum appears to be technically and fundamentally weak, it seems as though it might experience further short-term losses before being able to gather significant upward momentum. Let's wait and see.