Technicals align with fundamentals here as China's policy change against ICO's in theory should hurt ETH more than BTC
. We see price in a downward wedge
and looks to be flagging for the next leg down. I think a 3 Day chart shows the weak bounces off .07 the best, but I don't have that available on TV. It seems .05 is our best bet for a target where we see a temporary blowoff bottom out of our wedge
can't break above 40 which supports our guess of further losses, and DI- is in an uptrend while the ADX trendline
is reasonably high and looks to be expanding further. Best of luck.