Ethereum just like Bitcoin declined from our projected wave 3, which means wave 4 is on the move. We see really nice psychological support @300, also 38,2% fibonacci retracement and channel support for wave 4. We expect a bounce from those levels back to all time highs into wave 5 above @400-450 levels.
I had 5 where you have III. that's the only difference. I know that is a broken guideline, but it really doesn't matter in the scope of things it's headed up and will clarify itself as we go.