Ethereum is currently trading at two hundred and twenty-one dollars ($221) from the two hundred and seventy dollars ($270) mark.
The over twenty percent decline brought the ETH price down to two hundred and thirty dollars ($230) support area and then breaking even lower.
ETH price then continues until it hit the new low in the last thirty days at two hundred and twelve dollars ($212). This is the third day in a row Ethereum price continues to fall to new lows one after another despite hitting past the three hundred dollars ($300) mark
On the other hand, bears seem to be ruling the ETH price charts. The over twenty-three percent (23.6%) Fib retracement level also supports the two hundred and twenty dollars ($220) as the new support area.
While the fifty percent (50%) Fib retracement level indicates that the ETH price would face severe resistance on the two hundred and twenty-five dollars ($225) mark. However, the currency would have to sustain past two hundred and thirty dollars ($230) mark before making any attempts towards three hundred dollars.
Moreover, as the current trend seems bearish, the currency is likely to fall further down to one hundred and ninety-six dollars ($196) mark if the queen of cryptocurrency fails to sustain current levels.