Latest Ethereum price and analysis (ETH to USD)

Ethereum has flashed a sell signal overnight as it lost the $203 level of support, with it now acting as a point of resistance.

The sell off coincided with a plunge in the value of all major cryptocurrencies, with Bitcoin also falling back to the $8,830 level of support before finding a bounce.

Ethereum fell to as low as $192 before triggering a relief rally to the upside, although until it can break back above $203 the short-term trajectory looks gloomy.

It’s worth noting that $192 is a key level of support with the previous touch leading towards a 12.66% rally to the upside.

In order to break the bearish cycle of consistent lower highs Ethereum needs to trade back above $290 and preferably $366 as they were the respective yearly highs in 2019 and 2020.

Failure to do that would result in a prolonged bearish phase in the market, with potential downside price targets emerging at $152, $117 and even $81, which was the low on December, 2018.

In the immediate future if Ethereum can begin…