Ethereum price continued its strong downward trend on Friday as geopolitical risks rose and demand for cryptocurrencies waned.
Summary
- Ethereum price may continue the downward trend this year.
- Technical analysis shows that it has invalidated the inverted head-and-shoulders pattern.
- The upcoming Donald Trump attack on Iran may push prices lower.
Ethereum (ETH) token dropped to $1,937, down sharply from the all-time high of $4,943, and key factors suggest that it has more downside, potentially to the key support level at $1,500.
Ethereum price technical points to more downside
The weekly timeframe chart shows that the ETH price has remained under pressure in…
