Ethereum has been retracing for the last 14 days bringing the price down from the high of $408 down to $204. The fear in the market is palpable with many people, and even the most optimistic Ethereum investors calling the correction, the "bubble pop" on the crypto space.
Ethereum retraced and has found support at the $205 handle which neatly coincides with Ethereum's channel support and a fibonacci level of 61.8. If the support remains strong for the remaining of the week we may see Ethereum take out its previous highs and set its sights on $1000 before we have a main correction again.
Also, since we're dealing with parabolic moves, visiting Ether's price on the logarithmic scale isn't such a bad idea.
