ETHUSD could drop down to $40

BITFINEX:ETHUSD   Ethereum / U.S. Dollar
Whilst we're still in the crypto winter, the price of ETHUSD could drop as low as $40.

The green line shows the next major support which sits at around $42. At this moment in time, we are at the very bottom of the current support level . If this support breaks and the price drops below $80, the next stop is $40.

Point of Interest is the volume by price indicator that shows a gap between $80 and $40. If the price was to enter that zone, we are going down to $40.

The only thing that goes for Ethereum at the moment is the rising selling volume which isn't reflected by price. The candles are getting smaller whilst the volume expands. This could indicate that there's a strong sequence of buy orders around that area and the momentary reversal could be in the offing.