Markets are correcting pretty hard these days .. it is to continue still I believe :-) talking about belief here is an idea for the ethereum salvation ;-)
Couple of things to consider:
ETH left the ascending channel and got into descending channel. ETH is diving in a triangle formation. the 2nd clone triangle reveals where price will end up. Notice 3 dotted line which represent 60%, 70% and 80% price retracement respectively. I believe price will retrace around 70% ret line area, that is $120-$140 area. when: around the vertical blue line mark (it represents 1st august timeline).
Let's see how It goes :-)
BL
Disclaimer: Ideas I share are for pure demonstration based on my own research and/or charting. One should do the due diligence researching before taking decision to invest.
If my ideas brought you wealth and happiness and wished to share some with me, feel free ;-P
ETH reached the target Area and is bouncing back to approximately the area of $175-$185.
Continuation of above idea: Please NOTE that ETH is to plunge back to lower levels after the bounce. to the area of $100 -$120... may be even lower afterwards.