How deep will Ethereum dive?Heavy selling preasure!

Ethereum got hammered

Dear Hivers and LeoLions
4 days ago we were celebrating Ethereum going to 488$
In the last 4 days, we see a catastrophic free fall that some hours ago touched 316.77. We are facing a 70% downfall.
The coin is going down down down and under heavy selling pressure

Long story - short

It began getting heavy resistance going down to 450-400
Then the price was hit so bad that it dropped a new monthly low of $365.
After this, we rolled back months and landed to 315-335

Reasons?

We hear a lot but hard trades and selling pressure are happening all the time in cryptomarkets.
This unusual hammering is most likely is explained by OWEN GOUGH of the express, Quote: The crypto-market has been bombarded with the new regulations that could be imminent, forcing investors to be more cautious.
Other analysts advise resistance to panic because if you zoom out Ethereum all crypto market is taking a big HIT!

Hold tight and avoid panic sells
Any opinion on the matter is most welcome

Posted Using LeoFinance