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Ethereum has broken trendline support and is now flagging beneath - classic bearish action. A return above the support line would stall downside momentum, otherwise the path of least resistance is down.
I'm eyeing the 340 area as first support. From these levels, that's a risk-reward of around 2.5 ...not the best, maybe a better average price can be found on a ...
Green lines on my chart (not the very long ones) were trend lines on my Bollinger's taken from the 15 minute as I felt if anything was going to happen those lines would have to break to confirm. My Bollinger's are set 20, 3. Sometimes I will offset them as well because they capture the peaks, trough's, and break opportunities better. Still have to wait and see ...