The next support actually appears to be the $260ish level. The price on bitfinex has hugged that somewhat but we haven't seen any major downward movement below it that has been sustained for more then ~an hour. It will be interesting to see how many people end up having to liquidate their margin long positions that will cause the price to decline

Bitfinex has had huge amounts of volume as of recently (the past 24 hours). It has been ~2-3x as much as it has been recently. I would guess this is because of their ability to offer leverage and margin positions getting liquidated