Ethereum is still in the deep correction after the two-week rally from $130 to $400, and it is now trading right in the $250-$270 price zone that we pointed out as the initial target for the move. A further break lower could possibly trigger the test of the $235 or the $200 level, with the latter representing a 50% pull-back. The long-term picture is approaching neutral now, and the correction could soon be over, as the short-term indicators are already showing oversold readings.
I'd recommend accumulating more a position now, and if it breaks the $235, double down on that added position. This next rally after this correction will be greatly profitable.
