Ethereum Price Falls Below Critical Level, Will It Hold $1,000?

Ethereum has now lost its hold on an important level. This decline follows that of bitcoin which has now fallen below $20,000. However, for Ethereum, the fight continues to hold on to the one point where bulls still see some hope. However, with the way the market is moving, it may not be long before Ethereum is testing the critical $1,000 support level. Ethereum Falls Below $1,100 For Ethereum, holding above $1,100 for the past week had meant that there was still hope for a good run-up that could see it retest the $1,500 resistance. But this would only last just a little above $1,200 before it lost steam and was once more on another decline. Related Reading | Wall Street Investors Expect Bitcoin To Hit $10,000, Is This Possible? With the opening of the new week, the decline in prices has hit Ethereum hard and the price had easily broken through the support at $1,100. Now that the price sits below this point, it continues to push on whatever support is being established below it. Given that the digital asset continues to skew towards 100% sell, there may not be much support forming for ETH. This is because the sell-offs have refused to reach a fatigue point. It means that bears can still pull down the price of ETH. ETH falls below $1,100 | Source: ETHUSD on TradingView.com Ethereum has now fallen below its 20-day moving average, a metric that had been setting the digital asset for a bullish short term. Instead, the pu...