It's going down for no reasons, no bad news, not overbought on any chart, I don't know why....maybe it's market manipulation with institutional whales building their positions
no one is worried about the SEC (securities and exchange commision, in USA) recent discussions that possibly classifying ethereum as a security?
odds are small but at creation it did meet the criteria. now? with pow not so much.
also what happens when droves of erc20 based ICOs are classed as securities and thus illegal (for USA folks), or exchanges that want to be compliant with USA exchange laws and delist them. big selloff? or the rest of the world just continues as normal.
i have eth and a couple erc20 tokens btw.