I think this is a good point to buy Mithril, it'll most likely hit the 2112 level and then go up to 2131. 1 hour support levels holding well.
Looks like my analysis was a bit off, maybe I missed some important trend/level, the trend went extremely bearish afterwards and broke through the support.
The reason it dropped down so much is due to the fact that BTC fell drastically at that specific time. So it can't be said whether the analysis was faulty. Need to keep an eye on BTC for trading Altcoins from now.