Yesterday started off with ETH price trying to keep the position above $290 but failed and initiated a descending movement. The main channel support of $297 was broken and so a spiking downward process started reaching to $270 and even close to $260 supporting levels. The lowest dip was formed at $255.54 as the price now is trying correction and has moved above the 23.6 Fib retracements level since the previous downward flow: $315.21 to $255.54. For no an increasing channel pattern is forming with the support at $274 but there is a hurdle trying to clear the 38.2% Fib retracement level of the above mentioned flow.
Full article here: http://ethereumworldnews.com/ethereum-price-setup-dropping-lower-ethusd-going-towards-260-forecast/