Ethereum’s price is at a level where the following medium-term direction is going to be decided. What trend will the market choose?
The conditions for a turn to growth are almost ready
Ethereum’s price has stopped at an important medium-term resistance of $10. The future trend depends on which side of the market will be holding the advantage.
That will be indicated by the market’s structure. The most likely scenario is that Ethereum’s price will not fortify and fail to form a turn to decline at the level of $8.6, which is important for the bears; that will result in the continuation of the upward trend and the increased probability of a turn to growth in the medium-term scope.
The critical point for the whole upward trend that has started at $7 is the level of $8.6. That mark is the most likely peak of the rebound towards the upward trend.