Ethereum has lost more than seven percent in the past 24 hours. The news is bad as bulls no have hard times. The good news is that this downtrend has no fundamental reason meaning it won’t last long. I think that we will have a n upside correction in the nearest future at least.
Ethereum has broken through several support areas including $453.24 and $431.42. It fluctuates close to the next support area at $417.28. ETH/USD is close to its monthly lows and I think that currency pair has almost no room for further developing of the downtrend. My trading idea for today is the following – the currency pair is likely to start growing targeting the resistance area at $453.24.