Following a test of the $145 level, Ethereum has suffered a minor correction, falling by 3% to $141 before forming a new level of support.
A breakout from here will likely trigger a move towards $160, with a key level to the upside remaining at $219.
The exponential moving average (EMA) death cross on the daily chart came to fruition on August 23, with the cross forming adjacent to $219.
If the price of Ethereum gets rejected at $145, levels of support remain at $133, $128, and $122, while the psychological level of $100 is also worth keeping an eye on.
However, as price began to dwindle, so did support for the project, which was made worse by its numerous vulnerabilities including the lack of scaling solutions and failed hard forks.
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