The cryptocurrencies downtrend continues but it's mostly driven by manipulation than fundamental reasons. Technology is the same, blockchain is the same and nothing major happened. So, if you believed in the technology yesterday, you should continue to believe in it and just accept the widely higher volatile nature of this market compared to stocks and/or forex.
On a technical standpoint, the $700 level holds once again pretty well as it did in the past; important thing is it lines up with the .618 Fibonacci level from the historical low to the all time high of last December.
Today's pin candle is pretty significant and could confirm $700 as strong support; if Ethereum
is to find a bottom, hopefully it's this one.