Weekly
Here on the weekly, we can see a close approach to support yet again. Previous historical support at $404 (drawn by Fibonacci Levels) was lost which caused numerous stop losses to be triggered and a large sell-off to occur. This was due to this price level being considered a full-retracement from the end of the previous leg up back in the summer of last year.
The 0.618 fib level is usually a crucial level to watch when dealing with Fibonacci. Should we lose this, look to the historical and psychological level of $200 USD for support.
Most of, if not all altcoins generally look to the health of Ethereum when looking for bullish moves. Finding a solid bottom here is critical to the health of altcoins (at least ERC-20 tokens).
RSI is approaching historical lows for ETH, which could be a signal for a reversal soon.
Should be continue up, we need to knock at the historical resistance at $404 USD which caused issues last summer.
Posted from my blog with SteemPress : http://coinsholar.vornix.blog/2018/08/27/eth-usd-the-fate-of-altcoins/