Its not looking too good for Ether

Ethereum (ETHUSD) has fallen below $1100 today. It has not followed BTC lower, it has led the way and that was clear from the price action yesterday too. The drop back below its 21 day moving average (now at 1146) was the first indication that more downside could be forthcoming. That observation was noted here yesterday and since then the second largest coin has also taken out an interim trend line support level it has created on its recent rebound. That was in place this morning at 1120 and the drop below there clearly sparked stops and fresh selling. Ether has just now fallen to a session low at 1080 and unless it can rebound back above the levels just mentioned that it breached earlier, then further downside cannot be ruled out today