Ethereum’s price continues its fortification at an important medium-term level. The point where the market will choose a new medium-term direction is approaching.
The market’s inability to form a turn to growth can provoke a fall
Ethereum’s price is situated between two important resistance lines. The bottom resistance of $8.4 is responsible for the continuation of the medium-term downward trend. If a turn to decline does not form at that level, the upward trend will continue.
For the chance of the upward trend’s continuation to increase, Ethereum’s price has to hold and form a turn at the breaking point of $9.3.
The levels responsible for the beginning of a new trend are the resistances with the largest volumes, which are $8.4 and $9.3.