Currently, it's undecided as to where to move next. This is because of the hacking news and all that scaling issue.
There are 2 possible scenarios:
1. It could retrace at .05 below the major support and pullback up
2. It could enter into the and restock for a higher move up.
Best area to buy? It should be near the support . Just wait for a huge confirmation and big price up.
For now, Ethereum's too quiet.
but demand is strong enough to counter the down move
People are selling altcoins to buy more bitcoin because by Aug 1, exchanges will give out FREE Bitcoin Cash tokens with a 1:1 conversion ratio.