Ethereum’s price is at the level of convergence for large trading volumes. The current price is the most profitable for the bulls.

ETH/USD price chart 1

Usually it is in points like this one, where the market chooses the future trend. That happens, because the demand outweighs the supply: obviously, everyone wants to win. If Ethereum’s price holds at the level of $11.5 and forms a turn to decline, there will be a good probability of a downward trend.

ETH/USD price chart 2

But if the bulls hold that level, the current upward trend will continue, until at least the end of the rebound at $12.

ETH/USD price chart 3

The key level for the upward trend, which has started at $10.16 is the important resistance of $11.5 (BITFINEX). The market is most likely to decide its further trend exactly at that mark.