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