Ethereum’s price is at a peak of the structure which will be decisive for the further trend. Which direction will Ethereum’s price choose?

Will there be a turn to decline?

Ethereum’s price is at a peak of a rebound towards the upward trend. That is also a turning point for the continuation of the medium-term downward trend. The way the price behaves in the near future will determine the outcome.

ETH/USD price chart 1

If Ethereum’s price manages to fortify at that level, it will indicate that the bulls are a minority. In that case, and if the price forms a turnaround structure, the downward trend will be likely to continue. However if there will be no possibility for a turn to decline to form, upward movement is the most likely scenario.

ETH/USD price chart 2

The decisive point that will determine the future trend will be at $8.5.