Ethereum price analysis: $1,300 or lower?

Ethereum price analysis is negative today as support at $1,300 was challenged overnight. Since the threshold was broken, we predict ETH/USD to fall overnight and touch $1,250 early next week.

Last 24 hours, the market fell. Bitcoin fell 0.6%, while Ethereum lost 2.2%. The remainder of the market is also selling down somewhat.

ETH/USD traded between $1,289.62 and $1,328.11, exhibiting modest volatility. The market valuation is $158.73 billion, while trading volume is $6.82 billion, for a 17.1% market share.

On the 4-hour chart, Ethereum price movement is trying to break away from $1,300 as selling pressure remains.

Ethereum has traded sideways below $1,350 for days. ETH/current USD's trading range is $1,250 to $1,400 after failing to break higher or lower.

Overall, a break above or below the area is required to determine the month's trend direction. ETH's $1,350 barrier has caused a steady fall in recent days.

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