350$ indeed act as a big support.
However there is also the 470$ support from a previous bull flag, which correspond to the 78.6% Fibonacci retracement (swing low: 200$, swing high: 1430$, Bitfinex)
Will it hold at this level, it's too soon to know it.
What's more fun would be theorizing about what would happen in case of a complete collapse of Ethereum 😈, maybe this would make some big flow of money to others smart-contract platforms (remember all those so-called "ethereum killer"), or maybe to less flexible but more secure API based platforms like Ardor (shameless shill)?
Personally I'm not into ETH and I have faith in my coins (I also hold STEEM and BTS like you), therefore these kind of horrible scenarios are more divertissement than fear for me.
Have fun trading
That wick bounced exactly on 470$ 😉
It got down to $450 on Coinbase/GDAX, but I still see good odds in ETH making lower lows in the short run.