Ethereum’s price is right now holding in a zone, which is profitable for the Bears. That is a signal of Bull’s advantage. Will an upward trend form?
When an upward trend is most likely to happen?
The fact that Ethereum’s price has not undergone a downward impulse indicates that the Bulls are still in control.
Whether that will lead to a turn to growth depends on how the price will behave at the level of $11.8. If the bulls hold the advantage, that will be a good signal for an upward trend until the minimum of $12.4.
But there is always a chance for a turn to happen. If Ethereum’s price holds at $11.3, it will indicate that the sellers have won the advantage. In that case, it’s likely for the price to move toward $10.3.
The key levels right now are $11.8 and $11.3: they are the most likely to serve as starting points for a new short-term trend.