Ethereum has resumed its downtrend with a woeful daily close below a key level of support.
The world’s second-largest cryptocurrency is currently trading at $3,800 following a slight bounce from the $3,680 level.
However, it is now crucially trading below the diagonal trendline that provided support dating back to July.
Ethereum is now expected to re-test this trendline at $3,910. Failure to break above $3,900 would confirm it as a new point of resistance, which would see downside price…