Ethereum Drop Zones (Update)This is an update for my previous chart on Ethereum. See the link for the earlier chart in which Ethereum ended up entering the "Realistic Drop Zone," although my anticipated timing was off, the descending areas have been holding up well. I've kept the indicator lines and extended the time frame. The new "Realistic Drop Zone" has been moved to around $295-350 should Bitcoin continue on it's descent (which is still in the cards).
Note that Ethereum has been riding under the EMA 50 & EMA 200 lines and has been struggling to keep a 0.055 ratio with Bitcoin. Any quick downwards movement from Bitcoin and Ethereum will be fighting for it's dominance and price as well.
The orange-red lines indicate the area in which Ethereum will enter should Bitcoin breach into the $6000 - $6200 territory. Keep in mind that a loss of pairing value (ETH/BTC) may cause further decrease below $295. I do believe that Ethereum has been showing signs that it is reaching a point of stability against Bitcoin however, and going much further below $295 is not as likely for the present.
