Ethereum (ETH) is being held down by a blue trendline resistance that has not yet been breached. However, I believe it's only a matter of first completing the correction which is likely to be a Flat (3,3,5) correction as shown by the ABC waves. It would seem that red C wave would have an affinity for the 0.78 Fibonacci zone.







A detailed view shows that subwaes of red A as being three wave and the same for red B. Waves C and A would likely tend toward equality and that would likely mean the C would target the 0.78 Fibonacci level which is at $310 or so. Unlike LTC and BTC, ETH is not yet able to be counted as having wave 1 and 2 of a reversal because it has not yet completed the whole correction.

Source: haejin