Ethereum got clobbered with the rest of the crypto market this weekend. It is hard to imagine we were testing the $2K's just a few days ago, giving up several major levels of support since then to find support in the $1200's. Ethereum seemed to have taken the brunt of the crypto selloff of Friday, but the rest followed as APAC digested US CPI inflation data. The extent of this selloff is reminiscent of 2018, a total meltdown. We've sliced through all of our technical support levels from below, and have had to use inverse Fibonacci levels to anticipate more. We are currently clinging to support at $1235. We have a major support level from Fibonacci levels drawn from the daily charts at around $1000, which is the last barrier between ETH and 3 digit prices.
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