This is an important support line for ethereum .
If we brake here ETH is more likely to go down and potentially touch the support line 2 (in blue) wich you can see in my chart.
There we have to look how price reacts, ETH could form a second bear-flag here!
On the we see that its currently and no signs to form a price action.
is moving to the high oversold levels.
Thank you for, would be great when you leave a like here for more awesome chart analysis.
Good luck with your trades!