TA: Ethereum Price Just Reversed and $1,200 is Imminent, Here’s Why

Ethereum started a major decline from the $1,400 resistance against the US Dollar. ETH is moving lower and might even slide towards the $1,200 level.Ethereum gained bearish momentum below the $1,350 and $1,320 support levels.
The price is now trading below $1,300 and the 100 hourly simple moving average.
There was a break below a major bullish trend line with support at $1,290 on the hourly chart of ETH/USD (data feed via Kraken).
The pair could extend its decline towards the $1,220 and $1,200 s