Ethereum (ETH) Price Update: Tanking Bellow $700!?

Hi guys!

Here are my thoughts on ethereum for today.

ETH - Daily Chart

Tools used: Fib-Channel, Trend-Based Fib Extension, Moving Average and Trendlines

In my opinion ethereum's price crash is far from over since bitcoin is tanking and there was head and shoulder pattern on ethereum forming a few days ago.

If the prices crash even more, here is a rough price target for ethereum which is around $550. The recent sell off looks like a death cat bounce. I would stay away from ethereum for a while.

However, if you are thinking of getting the dips on this crash be prepared and have a plan if things don't go well.

Disclaimer

You know the drill guys. This is just opinion and not a financial advise. Do you own research and decide your own trades. Cheers!