Ethereum Price Analysis: ETH/USD Could Test $212-214

Key HighlightsETH price is under a downside correction since it broke the $245 support against the US Dollar.
Yesterday’s discussed contracting triangle with support near $242 was breached on the hourly chart of ETH/USD (data feed via Kraken).
The pair is likely to extend losses towards the next support at $214 and $212.Ethereum price is facing an increased selling pressure against the US Dollar and bitcoin. ETH/USD may continue to slide towards the $212 support in the near term.
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