This is entirely possible and because of this I sold all the ETH I held from $ 230. Although there are still a lot of people fomo about ETH over the coming days, I'm really quite worried because history never lied. Coming soon will be the Christmas and New Year holidays, when investors will soon sell their coins to have money and spend for the big holiday.
Every year has been like that and I think this year will be no exception when Bitcoin is still unable to get a new peak of ATH. It still suffered huge selling pressure when the price crashed to nearly $ 20k. That shows that the bears are still very crowded and could beat the bulls at any time.
So trade carefully at this stage, only trade with small amounts and place a stop loss. Never be subjective at sensitive times like this.