The uncertain growth of Ethereum’s price is quite likely to result in a sharp fall. When does it become risky to buy?
Will there be a turn to decline?
If, given all favorable conditions, the price still can’t move in a certain direction, the psychological factor may kick in and hand the advantage to the bears.
But that is only the initial assumption. To make informed trading decisions, one has to look for a more founded confirmation.
The level of $11.7 is the most profitable price for purchase deals within the rebound trend. Thus, if Ethereum’s price starts to fortify at it and form a downward turn, it will indicate that the bulls are a minority. In that case, there will be a high probability of a turn to decline.
But that scenario has not come to life so far, and the upward trend continues.