Ethereum is currently trading at $337 after plummeting from a high of $376. ETH could be aiming to re-test the critical $300 support level. Ethereum lost more than 10% of its value within the last 12 hours dropping from a $42 billion market capitalization to a current low of $38 billion. ETH/USD 4-hour chart Investors were unsure if Ethereum was forming a bear flag, a technical pattern, and a continuation of an existing downtred or triangle pattern, which could be bullish or bearish. The bear flag formed its flag pole On September 1 and the upwards consolidation period started on September 6 and has clearly broken bearish now but hasnt’ yet broken the low of the pole at $310. ETH IOMAP Chart The IntoTheBlock’s In/Out of the Money Around Price model (IOMAP) shows the next support level to be at $337 followed by $326. However, the biggest support levels are found at $304 and $294 where 861,000 addresses and 927,800 respectively bought ETH . The IOMAP seems to indicate that Ethereum is poised to re-test at least the $304 level. On the flip side, the smart-contracts pioneer is not facing a lot of resistance well until $365 but there doesn’t seem to be a lot of bullish momentum to push it to that level. A maximum possible target for the bearish outlook would be close to $200 as that’s the length of the flag pole. On the other hand, if bulls can recover, ETH price will be looking to reach $365 where the next most important resistance cluster is located at. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next NZD/USD extends reversal to 0.6650, lowest in a week FX Street 2 years Ethereum is currently trading at $337 after plummeting from a high of $376. ETH could be aiming to re-test the critical $300 support level. Ethereum lost more than 10% of its value within the last 12 hours dropping from a $42 billion market capitalization to a current low of $38 billion. ETH/USD 4-hour chart Investors were unsure if Ethereum was forming a bear flag, a technical pattern, and a continuation of an existing downtred or triangle pattern, which could be bullish or bearish. The bear flag formed its flag pole On September 1 and the upwards consolidation period started on September… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.