Ethereum has been struggling for some days in terms of price, but fell dramatically today. So what does this mean?
Well, lets have a look at the daily chart:
What is interesting is that 300, where the Ethereum price is right now is precisely at the long term lower trendline. So, that could be sufficient for support.
So, if you are a risktaker, this could be a good opportunity to fill up your Ethereum wallet. It could also work as a short term trade as well as a good long term investment.
If not, you could wait until this day "close" on Coinbase, at 8 PM Eastern Standard Time and see how the day ends. If the price rise from here that could be positive for the near future.
However, if the price will continue going lower, that is clearly negative. The next major support area is around 260 USD.
Happy trading!