KRAKEN:ETHUSD has taken a beating, along with most (all) other cryptos. However, there is a possibility that we are going to see 100% gains from here - this sounds great, but considering how much ETH has fallen from all time highs almost a year ago, people who bought in back then shouldn't get too excited - there is a long way to go before you even break even...
But there is a possibility for people who are new to the market to take some profits from this point. The price has established a solid downtrending range and price has just hit to bottom of the range. This coincides with an area of support that could possibly act to help reverse the downward price action over the previous few weeks. Thirdly, price has reached it's target following the symmertrical triangle breakout.
If price manages to turn around it would not be unreasonable to expect it to hit the top of the downtrend range, at around 200.
However, keep your losses tight, as the bearish sentiment is extremely strong and I would not be surprised if it overcomes any bullish sentiment, meaning that price never manages to reach the stop of the trading range. In addition, should price fall below the bottom of the trading range, the next stop is at around 55 - so a 50% loss.