Ethereum has been wandering between $4200 and $3600 more than 28 days before it fled down. Ethereum entered this second range zone on January 6 and ranged for more than two weeks.
Ethereum now trades below $3000 resting on a lower lows trend line. To avoid a further slump to the next support zone of $2600, fib 1.618, ETH needs to reclaim the support of $3100 in the second range zone. We might see a relief rally to $3000 again but as the weekend approaches, the descend might continue.
