The ETH broke its support at 785.2 and with the strong move and it is more likely that this fall continues. The sellers are still control of the price, and they are more confident because they have already passed that major support barrier. Moreover, new sellers are going to step in that give the additional power to sellers to push the price down. Also, it is important to discuss buyers perspective as well. The buyers who believed the ETH price was low and bought them earlier, not they losing money and are in pain. Majority of them will liquidate their positions that create additional selling power. Thus, I expect the ETH price to continue dropping.
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