Unfortunately there is no good news in the short term for Ethereum. It has just broken the major support, around $650, shown by the blue line and now walks harder for a other support, around $560.
To make matters worse, the volume got much higher in the last four hours, giving strength to the movement.
RSI is moving into an oversold position, which may give the ETH a chance to have a short recovery, but that will not prevent the downward trend.
Looking at the daily chart, you can see this movement more clearly.
I’ll keep you updated.
Obs.: Do not take any material or analysis in this blog as a recommendation. It's just my opinion and this is not a financial advice.
Can't wait to see where ethereum is going. I might start using ethereum as my main currency on Binance instead of bitcoin.
Shortly, if the drop continues, I believe that can be good buying opportunity, at the next support.
Thanks for comment @nuckingfutz