Ethereum Is In Steep Downtrend And Technicals Suggest Crucial Breakout Pattern

[Lenipiw]

In the past few sessions, there was a strong decline in Ethereum below $400 against the US Dollar. ETH price even broke the $350 support level and it dragged bitcoin lower below $10,200.

The decline was such that ether price even broke the $320 support and settled well below the 100 simple moving average (4-hours). It traded close to the $300 support and a new multi-week low is formed near the $309 level.
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