Ethereum is now down a sharp 20% on the week as the cryptocurrency crashes into the $1800 support. It had been trading inside a symmetrical triangle pattern over the past three weeks but ended up breaking this consolidation on Friday as it dropped to $1800
Yesterday, ETH showed signs of weakness after spiking into the Feb 2021 highs at $2036. It rebounded to close the daily candle for around $2245. Today, however, the sellers lost control and pushed ETH as low as $1700.
It has found support at $1800, a round psychological number bolstered by a .786 Fib Retracement. A break beneath here could send ETH much lower over the coming weeks.