Short term chart, this looked really important to note. We saw this 701.50 level be a support on the initial spike but quickly fell when bears showed up with any volume and took out this floor. Now, we've seen rejection THREE times on the short trend as technical indicators point lower for a test of the $680 support floor.
All markets seem to still be in pullback mode, and longer charts heavily favor the bears. Likely this pressure rubs off on the short trends as well since we weren't at oversold conditions.
$680 has been tested FOUR times so far, so it's likely that we will see a break of support unless the bulls fight extra hard (which, not sure why they would).
Stay tuned for updates...
Tell me @exxodus, is it a good option to invest in Ethereum that it's showing itself as a growing cryptocurrency?
Since I have found out about ETH I have liked it more than BTC. But, I do think the markets still have a ways to pull back, so this wouldn't be my recommended entry point. If you're wanting to just hold long term though it probably wouldn't matter, but I think we'll see better prices.