Ethereum is showing a significant downward trend, signaling a short-term shift from bullish to bearish. The price continues to fluctuate below the downtrend line, failing to break through. The short-term and long-term moving averages are forming a "death cross," reinforcing bearish dominance.
The current rebound is vulnerable to trendline pressure, making sustained gains difficult. Be wary of downside risks. Trading strategies should follow the trend and position against resistance.
