it's been a steady price for Ethereum since the begining of this month, still moving within 200 - 240$ Usd , do you think this is a bad sign for ETH?
The recent dump has been pointed out in the twitter that it was caused by a massive scam in China that are in billions and right now they have BTC, ETH and EOS. So in conclusion, that scammer group will just continue to dump btc as well as eth so ethereum won't even be able to struggle at all but to go lower to what we are expecting because of this incident.
The thing is this scammers are not stupid to just dump everything one time, that's $3 billion worth of combined BTC and ETH and they will noticed if they will sell it in one go, in addition, they will not be able to get the best price, so I believe they will sell it slowly, maybe trade with other altcoins before selling for their preferred fiat pair, and these people is not only concentrated in one country for sure, they will make sure their transactions are non traceable or hard to trace if the latter is not possible.