Ethereum just broke below the multi-month support it was respecting since June 26 last year. More than a week ago we spotted Ethereum moving down in a bearish parallel channel and predicted the potential target of $3000 which is pretty much achieved today.
Ethereum price today is $3,161.41 USD with a 24-hour trading volume of $23,393,568,617 USD. Ethereum is down 6.81% in the last 24 hours, with a market cap of $376,403,478,027 USD. It has a circulating supply of 119,061,995 ETH coins.
Breaking below this support level could be fatal for Ethereum as it is in the case of Bitcoin as the price can plunge to $2600 support, fib 1.618, and below. Ethereum has local support at EMA 200 and then at $3800, the converging point of EMA 20 and EMA 50.