Hello to all members of TradingView and my followers.
The downward trend of Ethereum continued with the complete failure of the support of the $1,085-$1,100 range. The very high slope of the price to the $1040 support area has been accompanied by a strong positive reaction. But due to the negative momentum, it is possible to hit the support level of $1040 again. If Ethereum holds this area, it has the potential to form a very short-term range zone above the support range.
Ethereum's current support ranges from $1000 to $970. A bearish flag pattern has also been formed in the daily time frame, which is not a good sign for Ethereum at all, considering the general downward trend. In case of breaking the important support of Ethereum in the mentioned ranges, it can be expected that the fall will continue until the price of 750 dollars.
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