On February 16, 2018, we said the following of Ethereum:
Failure of the price of Ethereum to achieve the $1,040.05 by a substantial amount ($1,111 or more) would be an indication that the price will retest the $695.08 level. A retest of the $695.08 level without falling below the level would be constructive for a new bull market. It would be a second failure to decline below the $692.99 level. According to Dow Theory, this would one of the most constructive bullish indications going forward. Alternatively, if Ethereum fell below $692.99 then the expectation is that $617.09 is the minimum downside target.
Unfortunately, Ethereum was unable to exceed $1,040.05 and has met our expectation of $617.09 as the minimum downside target. As of April 2, 2018, Ethereum is now trading around $384.
There is a lot on the line for Ethereum. Currently, the cryptocurrency is slated for the following downside targets:
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$279.31
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$188.13
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$96.95
Additionally, the 50% Principle for Ethereum’s upside target is at $884.46. This number will recede as the price falls but is a good indications of the upside prospects going forward.