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There was an expected breakdown of Ethereum last August 7 and that it will go below 404. It had happened and the price has plummeted to 358. The bearish trend for almost all crypto may further bring it down to 350 and to a low support of 280 in the coming days. A bullish resistance may maintain it at the 404 level using the 20 exponential moving average EMA and a wait and see attitude is advised before engaging in trading.
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They say if Ethereum can hit $1K it will be easier to climb after achieving this price, of course it can see some drops from time to time as well. The best way to think about this is to invest in technology and not worry so much about investing in crypto. A reason Ethereum could go up in the future though, is increased usage of smart contracts.
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