Ethereum risks dropping to 17-month lows if it fails to reclaim key resistance levels.
Ethereum has been trading below a key support zone, and its worst monthly performance in seven years is pointing towards a bearish retest of the range's top.
A rejection from the $1,930 mark could lead to a 15% drop and a price of $1,550 for Ethereum.
Analysts suggest that if Ethereum breaks above the $2,100 resistance, a 20% rally may be possible.