Ethereum’s price is fortifying at a key level. That is the first signal of a turn to growth. Will the upward trend continue?
What needs to happen for a turn to growth?
A fortification at key bear level indicates the lack of demand. The bulls are holding the advantage.
If this continues and Ethereum’s price starts forming a turn to growth, there will be a high probability of larger scale correction towards the next target of $11.1 - $11.2.
If, however, the bulls win the advantage, the $10.2 mark will become a key resistance line. A fortification and formation of a turn at it will most likely provoke further downward movement toward $9.5.
The structure of Ethereum’s price at $10.7 will determine if the market is going to form a turn to growth or rebound and continue falling.
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