If you've been watching Ethereum lately, the price has been flat for the majority of the week. 7 days ago, Ether's price hovered around $870, only to begin a steady downturn on March 6th, when the price started out trading at $850.
Today, Ether has hit a week low, parking down around $700 at the time of this writing. Some have set their GDAX accounts to buy at this current low. To buy, or not to buy, on a 20% drop? Let's look at the weekly chart. (The orange line is Bitcoin, so pay no attention to that).
Following the market cap, we can apply a downtrend line.
Here is the monthly chart for Ethereum.
Personally, I would place the support somewhere around $766.
After some analysis, you can now form an opinion regarding a buy price.
Thanks for reading,
j-james