Given the recent debacle and price debauchery, we could fantasy a scenario in which ETH has way more upside than downside. To support it, we can see a div forming, and oversold indicators across timeframes.
Yes this is a crazily optimistic idea and potentially very foolish to think ETH can head back up to ATH that quickly. Let's see how this plays out
Couple more arguments to support the major uptrend theory:
* BTC is now readjusting from the first round of major dump. With the "positive" segwit2x news, we can expect an overall bull week
* ETH has been favored by the bears. It's a perfect short squeeze candidate.
A more conservative target would be somewhere in the $250 range
The Ethereum Alliance news is big (https://entethalliance.org/enterprise-et...) and reinforces my belief in the pattern hitting high targets.
ETh is taking a breath and is gathering its strength for the next round. A probably retrace to $190-$200 wouldn't be surprising, but it is also possible it will hover in the 225 range in side moves...
Next target is $275-$300