Ethereum Price Action Suggest More Downsides Below $330: Here’s Why

Ethereum Price Could Accelerate Losses Yesterday, we saw a sharp decline in Ethereum below the $355 support level. ETH price even broke the $340 level and settled well below the 100 hourly simple moving average.

Ether price even climbed above the 23.6% Fib retracement level of the downward move from the $375 high to $331 low. Source: TradingView.com There was a fresh bearish reaction and there was a break below a key contracting triangle with support near $340 on the hourly chart of ETH/USD.

Timeline of Ethereum