Ethereum’s price has carried out one of the trend development scenarios. The downward trend continues.
What level will prove critical for this trend?
Ethereum’s market has picked a downward scenario, discarding the possibility of forming a turn to growth. Despite the price fortifying at a level profitable for the bears, the bulls have failed to hold the advantage, and thus there was no turn to growth.
The short-term downward trend will continue, as long as the advantage stays with the bears. The most likely point for a turn to growth is at $10.3, where a lot of trading volume converges. That price is profitable for the bears, and if they are in the minority, Ethereum’s price will fortify at that mark and form a turn to growth.
However, before the fortification and turn happen at the $10.3 mark, there is but one scenario, and that is continued decline.