1.) Ethereum has taken a huge blow, and this may just be a strong dead cat bounce. However, there is a that occurred on the daily , it is noted with the green in the oscillator, it did also encounter resistance as well though, and I market it with the red in the . So essentially, the is forming a symmetrical triangle. Currently, the only possible reversal pattern that I believe Ethereum is preforming is a "V" style bottom, in which there is a high drop and there is a large pick up in .
2.) There is a small that is forming on the hourly time frame and this and I will be posting an image of this on the bottom with a price objective somewhere around the 250-260 area. However, I do not know if this will hold because, the last symmetrical triangle that Ethereum broke through turned out to be a false breakout and then it made a strong move to the downside, roughly 100.
3.) So far, there is a lot of tones still in the market, and with bitcoin dominating the scene and Ethereum's weekly looking like it will make further moves down, I do believe that it will be difficult for Ethereum to break the orange , the third of the fan principle and reverse this trend. Even if it does manage to break the third it is still possible it will continue the bear market, as I have seen this happen before with litecoin.