Ethereum is clinging to the .886 support level, while also sticking to the bearish trend line. If Ethereum fails this support level, and can't break through the trend line, the price will plummet. If it goes through a complete correction of my fibonacci levels, it is possible Ethereum could fall to $26. Ethereum mining is virtually unprofitable at the moment. There is some good news as we know the majority of miners belong to big companies such as Bitmain. In other words if the big boys want to make money from mining, they're going to have to pump the price. Which very well may be in the works. If you notice last weeks volume in Ethereum is the most bullish volume for Ethereum in the past year. This means the big boys are getting into it. Also if you notice the Money Flow Index is in the green zone which it hasn't been in a long time, but we see that it is beginning to rise meaning that the money is coming back into Ethereum, leading me to assume that this very well may be the bottom for Ethereum and bullish days are ahead. We won't know for certain until Ethereum breaks through the Trend line.
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