Ethereum fell significantly on Wednesday, reaching as low as $255. The crypto currencies in general are getting hammered as the Chinese have made it known that they are not happy with the situation. By showing the willingness to come in and shutdown exchanges, this is probably the biggest fear most crypto currency traders face. Because of this, we are starting to see money leave the marketplace, and this could in the end offer a nice buying opportunity. However, I think that we need to see you at least the day of stability to start buying.
The Ethereum market also fell against Bitcoin, reaching as low as 0.068 during the session. The market looks likely to remain volatile, but quite frankly it still seems a bit negative. Ultimately, the market continues to be massively resistive, because quite frankly the market has seen a lot of action around the 0.07 region. Ultimately, this market will remain noisy, and somewhat bearish.