Ethereum’s price has reached the peak of its rebound. This is the time for another movement along the trend.

When will a new trend start?

The $10.7 resistance is profitable for the buyers and because of that, Ethereum’s price has bounced off it for the second time.

ETH/USD price chart 1

Until the sellers fortify at that point, the sideways movement is likely to continue. A fortification and a formed turnaround will indicate that the bears hold the advantage. That way, Ethereum’s price will have a chance to reach $8.6.

ETH/USD price chart 2

If we rule out the possibility of another upward rebound, which will most likely be the next bet of the sellers, Ethereum’s price has to hold at $12.3 and form a turnaround. That way, there is a much higher probability of an upward trend and the minimal target will be at $14.7.

ETH/USD price chart 3

In the end, the two most likely points for a start of a new trend will be where one movement grows into another, larger one. Those points right now are $10.7 and $12.3.