In our previous Ethereum analysis Ethereum Price Prediction Daily (18-Oct): Are The ETH Bulls Running Out Of Steam? we identified the key level Ethereum was testing yesterday and also warned our readers of a potential sell-off in price if the bulls failed to break through this level.

Well as of today that sell-off has intensified, indicating we might see more push to the downside in the coming days.

In this Ethereum analysis, we will be talking about the minor support the ETH price is about to test and why it so important.

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ETH $1,262 Minor Support

The Ethereum price is currrently approaching a minor support in the 15 minutes timeframe.

This support is very important because we have seen the Ethereum price respect it over and over again in the past. The question now is, can the bulls defend it or will we see the Ethereum price break right through it in the coming days?

What Ethereum Bears Must Do To Keep Pushing Price Lower

For the Ethereum price to continue selling off, the ETH bears must push the Altcoin price below the $1,262 minor support in the 15 minutes timeframe.

Unless the price can break through this key support, we might only see Bitcoin sell-off to this area before bouncing again.

So in the coming days, we will be keeping a close eye on this $1,262 key support to see how Ethereum reacts to it.

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