Ethereum has broken down below the critical support level as indicated by the green line. Price has the rest of the day to recover above this level. If the price fails to close above the critical support level , that would look very bearish . I would expect further downside in this scenario.
@EmpowerTrader, Well I think 5-7-10k are possible.. but this is more a question of the ETH project improvements (fundamental paramenters) as of the technical chart analysis.
For now, no more power for grow is available - it's indicated in slowly decreasing turnover
@claymore008, You might be correct. But to me it appears it will bottom out at around 2000 and continue to increase from there on, I don't see it dropping beyond 1900-2000.(I stand corrected on this one)
Took a look at the monthly chart and I stand corrected this might really bottom out out around 1400, probably between the next 2-3 months.
@MurderCamel22201, I agree we don't know, everything is possible. Only thing I think we can be assured of is that cryptocurrency is not going away anytime soon. I don't know which it is. So I can't tell, but obviously it did broke below the 1900-200 range.