The Ethereum price is down more than -6% in just today’s trading alone. This massive crash started late last night and has continued all through today.

What caused this sudden sell-off in Ethereum and what can we expect next? These questions and more are what we will be trying to answer in this Ethereum analysis.

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Ethereum Massive Crash! What Caused It?

For days now, we have been warning our readers about the Ethereum $1,697 major resistance in the 4-hour timeframe. Ethereum Bulls Losing Steam! Is This The End Of The Bullish Rally?

This key level served as a major support for the Ethereum bulls in the past but once price broke through, it became a new resistance level the Ethereum bulls would have to break through if they want to keep pushing the ETH price higher.

Well that bullish rally has finally stopped. The ETH bulls where unable to hold prices up and right now we are seeing a massive sell-off across board as ETH sellers are coming back into the market with full force.

But how long can we expect this Ethereum sell-off to last?

ETH Bearish Targets! Watch This Key Level

The next major level we are watching for Ethereum right now is the $1,268 key support in the 4-hour timeframe.

We have seen this price level serve as major resistance on previous ocassions in the past and we believe there is a very high probability that this level will serve as a price margnet for Ethereum in the coming days.

If this plays out, that means the Ethereum price still have about -10% potential drop still very likely in the coming days.

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