Ethereum Dips to $1300's!! 😨

Ethereum has taken a dive from highs at $2000 all the way back to the $1400's for over a 25% dip. This is extreme even for cryptos. Currently we are seeing support at $1424, one of our lowest levels. We have two wicks just below that which hopefully are forming a double bottom. The next level after that is $1340. If we gain some momentum we should easily be able to regain $1500's again, but recovering highs may take some time. On the longer term this is a technical retracement into an overall bull trend, however a further retracement could signal that a bear trend may be near for cryptos.