Ethereum Price Analysis: Bloodbath On Crypto Market Triggers Fallout From Descending Wedge Pattern

Since another recent bloodbath of December 4, 2021, the Ethereum coin price was trying to sustain above the $3650 support. The price action already provided three retests to this bottom support, and wobbling in a falling wedge pattern, the coin indicates a better probability for starting a recovery rally. However, the current selling pressure in the market has violated this support as well, suggesting extending price correction.