Ethereum finally gave way to sub-200!

Ethereum was trying very hard to stay afloat above $200 but it finally gave way and dropped straight into the next demand zone around $187.50. The FIB level is acting as support at the moment but we need to move away from this area or else we could see $175. EMAs are still moving lower trying to catch up to price so some consolidating might occur here but we can't rule out a bounce back up to the fast-moving EMA before a continuation lower.

The only thing that can give bulls some hope is a strong bounce from here back above the $208 area with volume.

Thanks guys