Ethereum has been following this down trend line the last five days. We're oversold on the 4-hr and daily charts. The daily is making a higher low RSI so far -- in the low 20's. Weekly for ETH is about to hit oversold before long too which is extremely crazy!!
There is definitely a lot of bear pressure on the horizon. Unfortunately we are still correlated with BTC so it's really an unfortunate thing. We could definitely see some great upside soon. What would really be great is if there's a nice news announcement that would pile all of the money into ETH.
For now, this is really a test of patience. There will be a rally and longer bounce. This selloff is unsustainable.
Bitcoin is seeing its third inside daily bar....we're keeping an eye on this.