- Ethereum on Wednesday is trading in the red by some 2.70% in the second half of the day.
A fresh wave of selling pressure has come into play, as near-term demand is being broken down around $300 area.
A failure in the noted support holding could open the door to a large wave of selling pressure.
Relative change: -2.50%
Price action is smashing near-term demand zone around $305 area, inviting further wave of selling pressure.
ETH/USD daily chart
The price is heading for a retest of a breached bullish flag structure, next major support eyed around $250 area.